Proposed Merger

Possible merger of the Blue Planet Investment Trusts pursuant to a Scheme of 
Reconstruction

Blue Planet Financials Growth & Income Investment Trusts No 1-10 plc (LSE: BPFU);
Blue Planet International Financials Investment Trust plc (LSE: BLP); and
Blue Planet Worldwide Financials Investment Trust plc (LSE: BPW)

(Collectively the "Blue Planet Investment Trusts")

The Boards of the Blue Planet Investment Trusts announce that they are
currently evaluating the possible merger of all twelve investment trusts to
create a single, larger investment trust. It is believed that such a merger
should be to the benefit of all shareholders through:

  * the anticipated reduction in operating expenses;
   
  * an expected lower total expense ratio than the existing investment trusts;
   
  * the potential to enhance future investment returns;
   
  * the raising of the profile of the combined company in the market; and
   
  * the potential increase in liquidity of its shares making it easier for
    investors to deal in them.
   
The intention is that this proposed merger will be completed pursuant to a
scheme of reconstruction under s. 110 of the Insolvency Act 1986 by
transferring the assets and liabilities of the Blue Planet Worldwide Financials
Investment Trust plc and Blue Planet Financials Growth & Income Investment
Trusts No. (1-10) plc to Blue Planet International Financials Investment Trust
plc in consideration for new Blue Planet International Financials Investment
Trust plc shares to be issued to Blue Planet Worldwide Financials Investment
Trust plc and Blue Planet Financials Growth & Income Investment Trusts No.
(1-10) plc shareholders on a relative net asset value basis.

A merger on this basis will be outside the provisions of The City Code on
Takeovers and Mergers.

Formal proposals will be provided to shareholders of Blue Planet International
Financials Investment Trust plc, Blue Planet Worldwide Financials Investment
Trust plc and Blue Planet Financials Growth & Income Investment Trusts No.
(1-10) plc, at which point, a further announcement will be made.

For more information, please visit www.blueplanet.eu

You can also contact the Company on 0845 527 7588 or by emailing
[e-mail]