Dividend Declaration

Personal Assets Trust PLC
14 October 2004


TO:       RNS
          
FROM:     PERSONAL ASSETS TRUST PLC

DATE:     14 OCTOBER 2004


First Interim Dividend


The Board of Personal Assets Trust plc has today declared a first interim
dividend for the year ended 30 April 2005 of £1.60 per share. The dividend will
be paid on 19 November 2004 to shareholders on the register on 5 November 2004.
The ex-dividend date will be 3 November 2004.

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 2005, expected to be paid in May 2005, will be at least £1.60 per share
and the total dividend for the year will be not less than £3.20, an increase of
at least 3.2% compared to the previous year.


For further details, please contact :-

 Steven Budge, Personal Assets Trust plc                      0131 225 9995
 Gordon Hay Smith, F & C Asset Management plc                 0131 465 1000



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