Director, Michael Morley, Dies

FOREIGN & COLONIAL PEP AND ISA INVESTMENT TRUST PLC
26 October 1999


FOREIGN & COLONIAL PEP AND ISA INVESTMENT TRUST PLC
FOREIGN & COLONIAL PRIVATE EQUITY TRUST PLC

It is with great sadness that the Board of Foreign & Colonial PEP and ISA
Investment Trust Plc and the Board of Foreign & Colonial Private Equity Trust
Plc announce the death of Michael Morley, a director of both companies.