Directorate Change

European Assets Trust NV
20 December 2002

To:    RNS

From:  European Assets Trust NV

Date:  20 December 2002


Announcement concerning Director

The Supervisory Board of European Assets Trust NV reports, with deep regret,
that Mr Michael Cook has died following a short illness. Mr Cook was a
supervisory Board Director of European Assets Trust NV for many years and the
Board would like to express its sincere gratitude for the valuable contribution
that Mr Cook provided to the Company.

For further information contact:

Michael Campbell      Tel [phone]

ISIS Asset Management plc

Investment Managers



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