Amendment to AGM statement

Blue Planet Financials Growth & Income Investment Trusts Nos 1-10 plc

Annual General Meeting Statement

The Boards of the Blue Planet Financials Growth & Income Investment
Trusts Nos 1-10 plc ("the Trusts") announce that at the Annual General
Meetings' of the Trusts today, all of the proposed resolutions were
passed except for resolution three proposing the election of Mr Kenneth
Murray as a Director.  In respect of resolution three, 591,762 votes
were cast, representing 43% of the issued ordinary share capital,
275,321 for the resolution and 316,531 against representing 20% and 23%
of the issued ordinary share capital respectively.

The Chairman regrets that the Boards were not given sufficient or
reasonable time to consider proposals put forward by a small group of
Shareholders a matter of days before the AGMs.

Performance in the Current Financial Year
The Boards reported that the Trusts' net asset values had risen by 24.6%
in the first two months of the current financial year. This compares
with a rise of approximately 8.6% in the Composite Index, against which
the Trusts' are benchmarked, over the same period. In order that
investors may gauge the relative performance of the Trusts, the
movements on a number of other relevant indices over the same period,
are given below.

Blue Planet Financials Growth & Income Investment Trusts NAV  +24.6%
FTSE Fixed Interest Index                                     +0.7%
FTSE 100 Index                                                +12.0%
FTSE 350 Banks Index                                          +15.4%

This strong outperformance carries forward what is a history of
outperfomance by the Trusts under the management of Blue Planet
Investment Management Ltd and the Manager is committed to maintaining
the Trusts' position as the best performing Financial Sector specialist
investment trusts in the UK.

Performance in the Last Financial Year
Standard & Poors Fund Awards in association with Money Management ranked
the performance of the Trusts as 1st of 6 funds in the UK Investment
Trusts Sector Specialists Financial Sector over one year.  They also
ranked them 1st in the sector over 3 years.

Trustnet, over the same period, ranked the Trusts' 3rd out of 41
investment trusts in the Growth and Income Sector over 1 year and 3rd
out of 37 investment trusts over 3 years. It also ranked their
performance as the 12th best out of the 243 investment trusts listed on
the London Stock Exchange over 3 years.

These figures, compiled by independent and respected bodies, demonstrate
the outstanding and consistent performance of the Trusts.

Share Price Discount to Net Asset Value
The Boards note that the discount at which the Trusts' shares trade
relative to their net asset values has increased as their net asset
values have surged and the Boards intend to aggressively buy back shares
in the market in order to ensure that the sharp rises in the net asset
value being achieved by the Manager are reflected in the share price for
the benefit of shareholders.

FSA Consultation Paper 164 - Investment Companies (including Investment
Trusts) - Proposed Changes to the Listing Rules and the Conduct of
Business ("CP164")
The Boards have read and responded to CP164 and await the outcome of the
FSA's final decisions regarding the implementation of this. In the
interim, they intend to take actions to strengthen their independence.

Outlook
The Chairman commented that the outlook for the Trusts and the financial
sector was excellent. He went on to say "we expect continuing dividend
growth; appreciating share prices; improved efficiencies with
consequential rises in earnings amongst the financial companies we are
invested in and more takeovers and consolidation. We have a good
portfolio of high quality stocks, a record of outperformance and a
market that still has upside. We expect well chosen equity portfolios to
outperform fixed interest securities and cash and have positioned our
portfolios accordingly. The high levels of cash we built up in the bear
market were reinvested in the market in late March/the 1st week of April
2003.  At the same time profits were taken on some of our holdings of
fixed interest securities and reinvested in equities. This move has been
fully justified by the subsequent performance of the Trusts net asset
values, up some 24.6% against a rise of only 0.7% over the same period
in the FTSE Fixed Interest Index and a yield of only approximately 0.5%
on cash.

We have adjusted our portfolios in a timely fashion to take account of
our expectations regarding likely future returns on different asset
classes.  Consequently, we are confident that our good performance will
continue."

End.