Tender Proceeds

European Assets Trust NV
17 November 2000


                           European Assets Trust NV

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Further to the announcement on 16 November 2000 of the gross proceeds of the
tender offer, the Company announces that the sterling equivalent of the Euro
15.67 per share to be paid to tendering shareholders has today been fixed at a
rate of £0.5995 per Euro.

The gross amount payable to shareholders receiving their tender proceeds in
sterling is 939.47 pence per Share.