Change of Manager

British Empire Sec & Gen Tst PLC
5 September 2001


British Empire Securities and General Trust plc ('the Company') announces that
the completion of the acquisition of its Investment Manager, Ivory & Sime
Asset Management Limited ('ISAM'), by Aberdeen Asset Management PLC
('Aberdeen') took place on 29 August 2001. Following completion, ISAM changed
its name to Asset Value Investors Limited and Aberdeen was appointed Company
Secretary of the Company.