Exercise of Warrants

INVESCO Asia Trust plc                             

                                (`the Company')                                

HEADLINE: Exercise of Warrants

INVESCO Asia Trust plc announced that application has been made to the London
Stock Exchange and UK Listing Authority for the admission to the Official List
of 200 ordinary shares of 10p each. These shares, which rank pari passu with
the existing ordinary shares in issue, have been allotted following the
exercise of the Company's warrants. Following the issuance of these shares
there will be 105,962,425 ordinary shares in issue.

INVESCO Asset Management Limited

7 September, 2004