Fixed Rate Borrowing

Temple Bar Investment Trust (the "Company")

Fixed rate borrowing

The Board of Temple Bar Investment Trust announces that it has agreed a £50m
fixed rate 15 year private placement note at a coupon of 4.05%. The funding
date will be September 3rd 2013 and this financing will be due for bullet
repayment in September 2028. The interest payment dates will be 3rd March and
3rd September.
 
The notes will be secured by a floating charge over the Company's assets,
ranking pari passu with the Company's 9.875% 2017 and 5.5% 2021 Debenture
Stocks.
 
The purpose of the note is to secure fixed rate long dated Sterling denominated
financing, (i) for the purpose of pursuing the Company's investment objective,
and (ii) as part of the Company's overall debt management in the context of its
outstanding Debenture Stocks.

J.P. Morgan Cazenove acted as placement agent in respect of this issue.

Enquiries:

Investec Asset Management Limited
Martin Slade                                        Tel: [phone]

J.P. Morgan Cazenove                                Tel: [phone]
William Simmonds