Investment Policy

Aberdeen New Dawn Invest Trust PLC
28 October 2003


Investment Policy

In anticipation of changes to the Listing Rules which come into force on 1
November 2003, the Board of Aberdeen New Dawn Investment Trust PLC ('the
Company') announces that, while it may from time to time hold shares in other
listed investment companies (including investment trusts), it is a stated
investment policy of the Company that it shall not invest more than 15 per cent
of its gross assets in other listed investment companies (including investment
trusts). The implementation of this investment policy does not require the
Company to dispose of any existing shareholding.

By Order of the Board

Aberdeen Asset Management PLC - Secretaries

28 October 2003






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