Pre-Close Trading Statement

Monday 26th September 2005

                        Liontrust Asset Management PLC                         

                          Pre-Close Trading Statement                          

On September 21st 2005 funds under management stood at £4.428 billion, a
marginal increase from the £4.403 billion at the company's year end of 31st
March 2005. The FTSE All-Share index has risen by 10.6% over the same period.*
A net £241 million of pension fund assets were withdrawn in the same period
with a further £18 million due to leave by the end of October. We have
maintained a healthy level of gross sales in our unit trusts although we have
seen net redemptions of £124 million over the same period.

In the calendar year to 31st August 2005 the unit trusts based on Large Cap and
Growth styles were up by 11.5% and 12.7% respectively. The unit trusts based on
the Value and Small Cap processes were up by 8.9% and 14.5% respectively on a
total return basis. And over the same period the FTSE All-Share (total return)
was up by 13.2% and the FTSE Small Cap (ex IT) was up by 13.1%.*

We expect to make an announcement before mid-October 2005 providing financial
information on the impact of our transition from UK Generally Accepted
Accounting Principles (UK GAAP) basis to an International Financial Reporting
Standards (IFRS) basis. When we make this announcement we will provide an
update on the timing of the announcement of our interim results for the period
ending 30th September 2005. We currently expect to announce our interim results
as usual by the end of October 2005.

For further information please contact:

Liontrust Asset Management PLC Nigel Legge 020 7412 1700

JP Morgan Cazenove Richard Locke 020 7155 4706

* Source: Lipper.