Director Shareholding

Deutsche Equity Income Trust PLC
3 January 2002

The Secretary

Company Announcements Office

London Stock Exchange Tower

Courier Delivery Entrance

Old Broad Street

London

EC2


3 January 2002

Dear Sirs

We wish to inform you that we have today been notified that Mr A K Mitchard, a
director of the Company, has on 28 December 2001 purchased through the
Company's dividend reinvestment plan a total of 104 of the Company's ordinary
shares at a price of 239p per share.

Yours faithfully

M Pope

Company Secretary