Issue of Equity

Jupiter Second Enhanced Inc.Tst.PLC
22 November 2004


22 November 2004

                    Jupiter Second Enhanced Income Trust PLC

Jupiter Second Enhanced Income Trust PLC announces that on 22 November 2004 the 
Company allotted 853,582 Geared Income shares of 1p each (at a price of 40p per 
share) and an equal number of 853,582 Zero Dividend Preference shares of 1p 
each (at a price of 61.5p per share) under the terms of a non pre-emptive 
placing to existing shareholders.

The issue of new shares at an aggregate issue price for each pair of one Geared 
Income share and one Zero Dividend Preference share of 101.5p will have the 
effect of enhancing the net asset value of the existing Geared Income shares 
in issue.  The new shares will rank pari passu with existing Geared Income 
shares and Zero Dividend Preference shares as appropriate.

Subsequent to this allotment there are now 56,144,159 Geared Income shares and
56,144,159 Zero Dividend Preference shares in issue.

Enquiries

Jupiter Asset Management                          020 7412 0703
Richard Pavry




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