Dividend Declaration

Personal Assets Trust PLC
1 May 2002



TO:            RNS

FROM:          Personal Assets Trust plc

DATE:          1 May 2002


The Board of Personal Assets Trust plc has today declared a second interim
dividend for the year to 30 April 2002 of £1.40 per share. The dividend will be
paid on 24 May 2002 to shareholders on the register on 10 May 2002. The
ex-dividend date will be 8 May 2002.

The Board's stated policy is never to cut the dividend rate, so that
shareholders can be confident that each half-yearly payment will at least equal
the previous one. Therefore, the first interim dividend for the year to 30 April
2003, expected to be paid in November 2002, will be at least £1.40 per share.


For further information please contact:


Gordon Hay Smith, Friends Ivory & Sime plc:     0131 465 1000



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