Capital Reorganisation

Henderson Eurotrust PLC
31 October 2002

31 October 2002


                            Henderson EuroTrust plc


Henderson EuroTrust ('the Company') today repaid the holders of the zero
dividend preference shares in the Company ('ZDP Shares') their full seventy
pence per share final entitlement. As a result 17,587,348 ZDP Shares will be
delisted and 25,667,005 ordinary shares of 5p remain in issue.

The Company was launched in 1992 and aims to achieve a superior total return
from a portfolio of high quality European investments. The Company invests
predominantly in large and medium sized companies which are perceived to be
undervalued in view of their growth prospects or on account of significant
changes in management or structure.

In June 2002, the holders of Ordinary Shares and holders of ZDP Shares approved
proposals for the Company's continuation beyond the scheduled wind up date of 31
October 2002. The Company will no longer have a fixed life and following the
repayment of the ZDP Shares the Company will no longer be a split capital
investment trust. The Company's investment policy remains unchanged.



Contacts:

Tim Stevenson, Henderson EuroTrust plc

Telephone: [phone]

Stephen Westwood

Head of Investment Trusts, Henderson Global Investors

Telephone: [phone]

Stephen Phillips

Investor Relations Manager, Henderson Global Investors

Telephone: [phone]

Mark Vickery

Henderson Press Office

Telephone: [phone]


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