New Borrowings

Monks Investment Trust PLC
12 December 2005

                         The Monks Investment Trust PLC

                                 New Borrowings



The Board of The Monks Investment Trust PLC has approved and authorised Japanese
Yen JPY16,600,000,000 five year fixed rate term loan facilities maturing in
December 2010. The average interest rate on the facilities is 1.40%.







                                                            Baillie Gifford & Co

                                                             Company Secretaries

                                                                12 December 2005


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