Statement re Total Assets at BID Prices at 30/11/0

GARTMORE DISTRIBUTION TRUST                                                    
TOTAL ASSETS                                                      31/11/03     
including undistributed current year revenue                                   
Portfolio valued on BID basis                                     £3.52m       
Net current assets                                                £3.90m       
TOTAL ASSETS                                                      £7.42m