Appointment of Director

Monks Investment Trust PLC
3 January 2002

                        The Monks Investment Trust PLC

                           Appointment of Director

The Company is pleased to announce the appointment of Mr J.G.D. Ferguson to
the Board with effect from 3 January 2002.

James Ferguson, who is 54 years old, joined Stewart Ivory in 1970. He was
appointed a director in 1974, and became chairman in 1989, a post he held
until his retirement in 2000. He is currently chairman of  Value & Income
Trust plc and  a director of  The Independent Investment Trust PLC.  Mr
Ferguson formerly has been a deputy chairman of the Association of Investment
Trust Companies and is also a former member of the Executive Committee of the
Fund Managers' Association.

Mr Ferguson holds no shares in the Company.

The appointment of Mr Ferguson falls to be ratified by Shareholders at the
Annual General Meeting of the Company to be held in July 2002.



                                                         Baillie Gifford & Co.

                                                           Company Secretaries

                                                                3 January 2002