RSIC Mechanical Portfolio Update August 2004

1 Valuation

1.1 Current Holdings

Type	Company	EPIC	Purchase Date	Price	# Shares	Total Cost	Dividends Received	Valuation Date	Current Bid Price	Share Value	Total (inc Dividends)	Profit / Loss	Profit / Loss %
Value	Crest Nicholson	CRST	28/04/03	215.50	330	£711.15	£36.30	13/08/04	340.75	£1,112.47	£1,148.77	£437.62	61.54%
Value	European Motor Hdgs	EMH	21/08/03	172.78	581	£1,020.87	£19.75	13/08/04	200.00	£1,150.00	£1,169.75	£148.88	14.58%
Value	Severfield-Rowen	SFR	23/10/03	323.88	306	£1,008.03	£32.90	13/08/04	375.00	£1,135.50	£1,168.40	£160.37	15.91%
Value	Countryside Properties	CYD	19/12/03	196.70	471	£943.09	£24.16	13/08/04	195.00	£906.45	£930.61	-£12.48	-1.32%
Value	Wagon	WAGN	01/03/04	198.00	514	£1,034.81		13/08/04	178.00	£902.92	£902.92	-£131.89	-12.75%
Growth	Horizon Technology	HOR	24/03/04	66.50	1587	£1,077.91		13/08/04	60.00	£940.20	£940.20	-£137.71	-12.78%
Growth	4imprint Group	FOUR	21/05/04	141.50	710	£1,021.67		13/08/04	128.00	£896.80	£896.80	-£124.87	-12.22%
Value	Fyffes	FFY	30/06/04	117.34	897	£1,075.01		13/08/04	117.00	£1,037.49	£1,037.49	-£37.52	-3.49%
Growth	SportingBet	SBT	21/07/04	99.05	1053	£1,060.21		13/08/04	94.50	£983.08	£983.08	-£77.13	-7.27%
	Totals					£8,952.75	£113.11			£9,064.91	£9,178.02	£225.27	2.52%
	Cash									£3,312.77
	Total Portfolio Value									£12,377.68		£1,077.68	9.54%

1.2 Previous Holdings

Type	Company	EPIC	Purchase Date	Price	# Shares	Total Cost	Dividends Received	Sale Date	Sale Price	Share Proceeds	Total (inc Dividends)	Profit / Loss	Profit / Loss %
Value	Countryside Properties	CYD	18/10/01	157.60	497	£799.19	£32.40	17/10/02	173.40	£849.80	£882.20	£83.01	10.39%
Value	Wimpey (George)	WMPY	13/12/01	196.31	399	£799.20	£34.12	18/12/02	230.00	£905.70	£939.82	£140.62	17.60%
Value	Westbury	WBY	21/02/02	285.60	274	£798.45	£31.10	03/03/03	315.22	£851.70	£882.80	£84.35	10.56%
Value	Crest Nicholson	CRST	25/04/02	237.60	330	£800.00	£31.35	28/04/03	215.50	£711.15	£742.50	-£57.50	-7.19%
Value	Savills	SVS	28/06/02	184.40	425	£799.62	£43.35	23/06/03	161.00	£672.25	£715.60	-£84.02	-10.51%
Value	Woolworths	WLW	29/08/02	30.73	2551	£799.84	£33.80	21/08/03	39.77	£1,002.53	£1,036.33	£236.49	29.57%
Value	Mowlem (John)	MWLM	17/10/02	139.50	580	£825.15	£59.16	22/10/03	185.37	£1,063.15	£1,122.31	£297.16	36.01%
Value	WH Smiths	SMWH	18/12/02	335.99	206	£707.60	£39.14	19/12/03	275.00	£554.50	£593.64	-£113.96	-16.11%
Value	British Vita	BVIT	03/03/03	218.00	328	£730.62	£37.72	01/03/04	270.25	£874.42	£912.14	£181.52	24.84%
Value	TDG	TDG	23/06/03	199.00	446	£903.98	£62.45	30/06/04	210.38	£926.27	£988.72	£84.74	9.37%
	Totals					£7,963.65	£404.59			£8,411.47	£8,816.06	£852.41	10.70%

1.3 Stop Loss Information

Company	Purchase Price	Target Price	Trailing Stop Loss	High	Target Met?	Sell If Below
Crest Nicholson	215.50	323.25	32.33	361.25	Yes	328.93
European Motor Hdgs	172.78	259.17	25.92	224.00	No	259.17
Severfield-Rowen	323.88	485.82	48.58	410.00	No	485.82
Countryside Properties	196.70	295.05	29.51	279.00	No	295.05
Wagon	198.00	297.00	29.70	198.50	No	297.00
Horizon Technology	66.50	99.75	9.98	69.00	No	99.75
4imprint Group	141.50	212.25	21.23	144.50	No	212.25
Fyffes	117.34	176.00	17.60	119.50	No	176.00

1.4 Dividends Declared but not Paid

Company

Ex-div Date