Flotation of Liontrust Winners Investment Trust

Liontrust Asset Management PLC
30 March 2000


                 FLOTATION OF LIONTRUST WINNERS INVESTMENT TRUST
           PLC THROUGH A PLACING BY HSBC INVESTMENT BANK PLC OF UP TO
                  30,500,000 ORDINARY SHARES AT 100P PER SHARE


Liontrust Winners Investment Trust PLC, (the 'Company'), a new UK-based
investment trust, has today published its prospectus for its listing on the
London Stock Exchange by way of a placing. The Company's assets will be
managed by Liontrust Investment Services Limited, regulated in the conduct of
investment business by IMRO, which is a subsidiary of Liontrust Asset
Management PLC.

The Ordinary Shares are being placed by HSBC Investment Bank plc at 100p  per
share with a wide range of institutional investors and private client brokers
to raise up to £29,576,500 (net of expenses) for the Company.

Dealings are expected to commence on Thursday 6 April 2000.

The Company will provide investors with the opportunity to participate in a
portfolio of UK securities with the objective of outperforming the capital
performance of the FTSE 100 index.

The Company's investment universe will be the largest 150 UK listed companies
by market capitalisation. It is intended that the number of holdings in the
portfolio will be between fifteen and thirty.

Dealings and Listing

Application has been made to the London Stock Exchange for the admission to
the Official List of the Ordinary Shares issued and to be issued as set out 
herein.It is expected that admission will become effective and that dealings 
in the Ordinary  Shares will commence on 6 April 2000.  It is expected that 
definitive certificates will be despatched by 12 April 2000.  No temporary 
documents of title will be issued.

Enquiries:

Liontrust Winners Investment Trust PLC      020 7412 1700
Nigel Legge
Jonathan Harbottle

HSBC Investment Bank plc                    020 7336 9000
Tom Durie
Patricia Fotheringham


This announcement does not constitute an offer to sell or to subscribe for, 
or the solicitation of an offer to buy or to subscribe for, ordinary shares 
in Liontrust Winners Investment Trust PLC and is not for distribution in  or 
into the  United  States,  Canada, Japan, the Republic of Ireland,  South 
Africa  or Australia, or their respective territories or possessions.  Any
purchase  of  or application for shares in Liontrust Winners Investment Trust
PLC should only  be made  on  the  basis  of  information contained  in  the 
prospectus  issued  in connection with the placing. The value of an investment
may go down as well  as up. Advice should be sought from an independent
financial adviser  as to the suitability for the individual concerned.

This announcement, for which the directors of Liontrust Winners Investment
Trust PLC are solely responsible, has been approved by HSBC Investment Bank
plc, which is regulated in the United Kingdom by the Securities and  Futures
Authority Limited, solely for the purposes of section 57 of the Financial
Services Act1986.

HSBC Investment Bank plc is acting solely for Liontrust Winners Investment
Trust PLC and no-one else in connection with the proposed listing of ordinary 
shares in Liontrust Winners Investment Trust PLC on the Official List of  the
London Stock Exchange and the placing, and will not be responsible to anyone
other than Liontrust Winners Investment Trust PLC for providing the
protections afforded to customers nor for providing advice in relation to the
proposed listing  or any subscription for or purchase of shares in Liontrust
Winners Investment Trust PLC.