Investment Policy

Murray International Trust PLC
13 October 2003






MURRAY INTERNATIONAL TRUST PLC


Investment Policy

In anticipation of changes to the Listing Rules which come into force on 1
November 2003, the board of Murray International Trust PLC ('the Company')
announces that, while it may from time to time hold shares in other listed
investment companies (including investment trusts), it is a stated investment
policy of the company that it shall not invest more than 15 per cent of its
gross assets in other listed investment companies (including investment trusts).
The implementation of this investment policy does not require the Company to
dispose of any existing shareholding.

By Order of the Board

Aberdeen Asset Management PLC - Secretaries

13 October 2003












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