Issue of Equity

Temple Bar Investment Trust Plc ('the Company')                

Application has been made to the Financial Services Authority and the London
Stock Exchange plc for a total of 400,000 ordinary shares of 25p each
('shares') to be admitted to the Official List.

It is expected that admission will be granted on 19 May 2005 and trading will
commence on 20 May 2005.

These shares which rank pari passu with the existing ordinary shares of 25p
each in issue have been allotted following a placing at 691p per share. The
proceeds of the placing will be used for investment purposes.