Shareholder Value etc

European Assets Trust NV
30 June 2000


The Company has previously communicated with shareholders regarding action
seeking to improve shareholder value being taken by the Boards of European
Assets Trust.  The Boards have already announced their intention to provide a
high yield on the Company's shares, commencing in 2001 under revised Dutch tax
legislation due to be enacted in July.

In summary the changes in the legislation as it affects the Company are  -
 *  From 2001, investment companies realising and distributing their
revaluation reserves will be treated as making a distribution of capital, and
dividend withholding tax will no longer arise.
 * During a transitional period up to and including 2005, investment companies
will suffer corporate taxation at the rate of 20% on 'excess distributions',
defined as annual distributions in excess of the greater of a 4% return or
twice the average distribution in the three years 1998, 1999 and 2000, under a
consistent dividend policy.
 * After 2005, investment companies would be able to distribute their assets
freely.

It is intended to pay a high dividend from 2001 inclusive, funded in part from
reserves and with a scrip dividend alternative for those shareholders who wish
to continue to receive their investment returns principally in the form of
capital.  The level to be paid from 2001 will depend on market conditions at
the time and will be competitive with that paid in respect of ordinary income
shares by investment trusts in the UK split capital sector, taking into
account the Company's portfolio and capital structure.  The Articles of
Association were amended at a General Meeting today to permit the use of
reserves for this purpose.
The investment portfolio should remain unaffected by the distribution policy
permitting continued exposure to the smaller European companies in which we
have specialised.  The Company's reserves are sufficient to maintain this
level of distribution until 2006, even assuming no capital growth and a
maintained portfolio yield.  The modified policy would include a vote in 2006
on the continuation of the Company when, under the tax legislation due to be
enacted, a full distribution of assets could be made without tax liabilities
arising within the Company.

Further to the announcement made on 14 May, a scheme is to be introduced under
which the Company will repurchase up to 50 per cent of the issued share
capital.  This will enable shareholders who so wish to tender for repurchase
by the Company all or part of their shareholding.  Tenders in respect of more
than 50 per cent of an individual shareholding will be subject to matching
with other shareholders who do not wish to tender their shares.  The
repurchase price will be based on the net asset value of the Company, less
Dutch withholding tax at an effective rate of 15 per cent and expenses.  It is
anticipated that the documentation for this will be issued in the second half
of July.

Enquiries:

Contact:   Howard Myles, UBS Warburg: 0207 568 2140