Director Shareholding

Deutsche Equity Income Trust PLC
02 January 2004


RNS

London Stock Exchange Tower

Courier Delivery Entrance

Old Broad Street

London

EC2


2 January 2004


Dear Sirs


We wish to inform you that we have today been notified that Mr A K Mitchard, a
director of the Company, purchased 130 of the Company's ordinary shares on 30
December 2003 through the Company's Dividend Reinvestment Plan at a price of
224p per share.


Yours faithfully


M Pope

Company Secretary


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