Tax Update

European Assets Trust NV
04 January 2005

     
To:   RNS

From: European Assets Trust NV

Date: 4 January 2005



Tax Update

The Board is pleased to report that it has been advised that the Dutch
parliament has approved a bill to abolish Dutch surtax from 1 January 2005.
This is one year earlier than had previously been indicated.  Dutch surtax
applied to 'excessive distributions' as defined in the relevant legislation and
the Company had borne some Dutch surtax in previous years.



For further information contact:

Crispin Longden (Investment Manager)                   Tel [phone]
Michael Campbell (Company Secretary)                   Tel [phone]
F&C Asset Management plc

Wilbert van Twuijver (Managing Director)               Tel [phone]


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