Result of Meeting

Monks Investment Trust PLC
28 November 2002

                 THE MONKS INVESTMENT TRUST PLC (THE 'COMPANY')

                             STOCKHOLDERS' MEETING

                                28 NOVEMBER 2002


At the meeting of the holders of the 11% Debenture Stock 2012 and the 63/8%
Debenture Stock 2023 of the Company held earlier today to consider the
appointment of a new trustee the holders passed an extraordinary resolution to
approve the appointment of Capita IRG Trustees Limited in place of Axa Insurance
plc as sole trustee of the debenture stock.
.

                                                           Baillie Gifford & Co.

                                                             Company Secretaries

                                                                28 November 2002



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