Statement re Investment Mngr

British Empire Sec & Gen Tst PLC
15 September 2003



BRITISH EMPIRE SECURITIES AND GENERAL TRUST p.l.c.
('British Empire' or 'the Company)

The Board of British Empire notes the conclusion of the negotiations between the
Company's investment manager, Asset Value Investors Limited ('AVI') and Aberdeen
Asset Management PLC ('Aberdeen'), resulting in the management of AVI purchasing
Aberdeen's interest in AVI. The Board of British Empire confirms that as a
result of the very strong performance of the Company over the last 18 years
under AVI's management, it remains the Board's intention to retain AVI as
British Empire's investment manager.

Enquiries:

British Empire Securities and General Trust p.l.c.
Iain Robertson, Chairman
Robert Hoskin, for the Company Secretary
020 7463 6000

Asset Value Investors Limited
John Walton
020 7463 6000








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