Issue of Equity

Personal Assets Trust PLC
09 July 2003

To:       RNS

From:     Personal Assets Trust plc

Date:     9 July 2003


Issue of Equity

In response to requests from shareholders, the board of Personal Assets Trust
plc announces the number of shares issued during June 2003 :-


End of month       No of share in        Number of new shares      % of capital       Inflow of new
                            issue   issued during the month *       represented             capital

June 2003                 577,356                     8,914               1.57%          £1,794,443
                                                      8,914                              £1,794,443

* These shares have been issued under the company's various block listings.

There are 577,356 shares in issue as at 30 June 2003. This gives a market
capitalisation of £116.5m, based on a closing mid-price of £201.75.

For further details, please contact :-

Steven Budge, Personal Assets Trust plc               0131 225 9995

Gordon Hay Smith, ISIS Asset Management plc           0131 465 1000




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