Dividend Declaration

Personal Assets Trust PLC
16 October 2003

TO:     RNS

FROM:   PERSONAL ASSETS TRUST PLC

DATE:   16 OCTOBER 2003


First Interim Dividend

The Board of Personal Assets Trust plc has today declared a first interim
dividend for the year ended 30 April 2004 of £1.50 per share. The dividend will
be paid on 21 November 2003 to shareholders on the register on 7 November 2003.
The ex-dividend date will be 5 November 2003.

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 second interim dividend for the year ended 30
April 2004, expected to be paid in May 2004, will be at least £1.50 per share
and the total dividend for the year will be not less than £3.00, an increase of
at least 3.4% compared to the previous year.


                      This information is provided by RNS
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