Future Change of Fund Manager

Bankers Investment Trust PLC
17 May 2002


Henderson Global Investors

17 May 2002

                        The Bankers Investment Trust PLC

                         Future Change of Fund Manager

Michael Moule, the investment manager of The Bankers Investment Trust PLC has
informed the Board that from 30 June 2003 he wishes to retire from Henderson
Global Investors. Following Michael Moule's retirement next year, the overall
investment responsibility of the Company will transfer to the deputy manager,
Alex Crooke. Michael Moule will remain on the Board.

The Bankers Investment Trust PLC is a £450m global growth investment trust.
Michael Moule has managed the investments for 25 years. He has been a director
since 1982. The Company has assets invested throughout the world, managed by a
team of four fund managers, under the guidance of Michael Moule. Alex Crooke is
the deputy manager and currently manages the UK equities held by Bankers. He
joined Henderson Global Investors in 1994, initially working on the Witan
Investment Trust plc, the largest of Henderson's investment trusts. Previously
he spent four years working as an investment analyst. He is currently the
manager of Henderson High Income Trust plc (since 1996) and Henderson Geared
Income & Growth Trust plc (since 1999).

The Chairman Andrew Barker said 'Michael has a very impressive investment record
and he is highly respected in the investment trust sector. He has given The
Bankers Investment Trust PLC great service and I am delighted he will have a
role in the future'.

Commenting on the development, Michael Moule said, 'I have been very fortunate
to have been at the helm of Bankers for the past 25 years. With the long-term
support of the Board, Henderson, and our advisors it is gratifying that Bankers
has retained its independence and character within the premier league of
international trusts. I continue to believe that as a long-term collective
savings vehicle conventional, undated international trusts are unsurpassed.
There have naturally been periods of poor performance and discount volatility
but over the past quarter century the Bankers share price, net asset value and
dividends have compounded at 14.1%,12.7% and 10.3% per annum respectively.

Dedicated and experienced investment trust managers are difficult to find, but
the new crop that Henderson has managed to train and retain is of an exceptional
vintage. I wouldn't be happy to retire from my life's work if I didn't have the
utmost confidence in Alex Crooke, the team of specialist geographical managers,
and the collective skills residing in the UK investment trust team. Alex Crooke
is ideally placed to maintain the investment style and consistent performance of
Bankers and I look forward to handing over the reins to him next year. I am
delighted to have been invited to continue to serve shareholders as a non-
executive director'.

                                    - ENDS -

For further information, please contact :

Michael Moule
Fund Manager
The Bankers Investment Trust PLC
Tel: [phone]



Alex Crooke
Deputy Fund Manager
The Bankers Investment Trust PLC
Tel: [phone]



Vicki Staveacre
Henderson Corporate Affairs
Tel: [phone]



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