LEGGMASON INVESTORS EUROPEAN UTILITIES TRUST PLC

The net asset value per Ordinary Income share of LeggMason Investors European
Utilities Trust plc as at the close of business on 17 October 2003 was 92.49p.

The analysis of the net assets at 17 October 2003 by geographical area is as
follows:

Belgium                         3%
                                  
Finland                         4%
                                  
France                          3%
                                  
Germany                         7%
                                  
Greece                          8%
                                  
Hungary                         0%
                                  
Ireland                         0%
                                  
Italy                          18%
                                  
Norway                          0%
                                  
Portugal                       11%
                                  
Spain                          16%
                                  
Switzerland                     0%
                                  
United Kingdom                 27%
                                  
United Kingdom (bonds)          0%
                                  
Cash                            3%
                                  
                              100%
                                  

20.10.03



END