Special Resolutions Passed

Monks Investment Trust PLC
06 August 2003


                 THE MONKS INVESTMENT TRUST PLC (THE 'COMPANY')

                         PASSING OF SPECIAL RESOLUTION
                                                  

At the seventy-fourth Annual General Meeting of the Company held on 6 August
2003, shareholders approved the following special resolution:

•  A resolution renewing the Company's authority to make market purchases
   of up to 14.99 per cent of the Company's current issued share capital, being
   44,123,858 shares. Such authority unless previously varied, revoked or 
   renewed will expire at the conclusion of the Annual General Meeting of the 
   Company to be held in respect of the year ending 30 April 2004 or 5 February 
   2005, whichever is the earlier. Future purchases of shares will only be made 
   at prices which, after allowing for costs, will enhance the net asset value 
   of the Company.


                                                           Baillie Gifford & Co.
                                                             Company Secretaries
                                                                   6 August 2003


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