Re Manager

Govett Strategic Trust plc
04 November 2003

Govett Strategic Trust PLC

The Board of Govett Strategic Trust PLC ('GST') notes today's announcement by
Allied Irish Banks, p.l.c.  Govett Investment Management Limited (GIML) have
confirmed to the Board that they will continue to manage and conduct the affairs
of GST in its transition phase, prior to the reconstruction as previously
announced.

The Board expects to post a circular in relation to that reconstruction in mid
November 2003.

Enquiries:

Sir John Riddell                        0191 279 4222
Chairman

Angus Gordon Lennox  020 7588 2828
Cazenove & Co. Ltd



END


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