Investment Policy

Foreign & Colonial Eurotrust PLC
21 October 2003


The Board of Foreign & Colonial Eurotrust PLC (the 'Company') notes the
publication of the Investment Entities (Listing Rules and Conduct of Business)
Instrument 2003 and announces that, while the Company may from time to time hold
shares in other listed investment companies (including investment trusts), it is
the Company's policy to invest no more than 15 per cent of its gross assets in
other listed investment companies (including listed investment trusts). The
implementation of this policy will not require the Company to dispose of any
existing shareholding.




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