Statement re Investments

Gartmore Asia Pacific Trust PLC

(formerly Govett Asian Recovery Trust PLC)

Announcement under UKLA listing rule 21.20(l)

1. As at 31 December 2003, the Company had no investments requiring disclosure
in accordance with UKLA Listing Rule 21.20(l)(i).

2. In accordance with UKLA Listing Rule 21.20(l)(ii), the Company's ten largest
investments as at 31 December 2003, were:

Company                                                  £'000    Percentage of
                                                                   Gross Assets
                                                                               
GOVETT SINGAPORE GROWTH FUND ORD GBP0.01                 2,048              7.9
                                                                               
PACIFIC METALS CO JPY                                    1,220              4.7
                                                                               
MITSUBISHI CORPORATION JPY50                             1,115              4.3
                                                                               
NTT DOCOMO JPY NPV                                         857              3.3
                                                                               
ORIX CORPORATION JPY50                                     813              3.2
                                                                               
TOYOTA MOTOR CORPORATION JPY50                             745              2.9
                                                                               
NOMURA HLDGS JPY50                                         731              2.8
                                                                               
LEOPALACE 21 JPY50                                         688              2.7
                                                                               
CATHAY FINANCIAL HOLDING CO TWD10                          677              2.6
                                                                               
FUJI SOFT ABC INC JPY50                                    669              2.6