Change of Chairman & Manager

Monks Investment Trust PLC
08 March 2005

                         The Monks Investment Trust PLC

                        Chairman and Manager Succession.

Sir Charles Nunneley, the Chairman of The Monks Investment Trust PLC, will
retire from the Board at the conclusion of the Annual General Meeting to be held
on 2 August 2005.  Mr James Ferguson, who was appointed a Director of the
Company in 2002, will succeed Sir Charles Nunneley as Chairman.


It has been announced that Richard Burns, the Manager of Monks, will retire as
Manager and as Senior Partner and Chief Investment Officer of Baillie Gifford &
Co in April 2006.  Baillie Gifford act as Managers and Secretaries to Monks and
Gerald Smith, a Partner in Baillie Gifford, who has worked with Richard Burns
for 18 years, will succeed him as Manager.



                                                           Baillie Gifford & Co.

                                                             Company Secretaries

                                                                    8 March 2005




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