Change of Quote Currency

Prodesse Investment Limited
18 November 2005

Prodesse Investment Limited



18 November 2005



      Prodesse Investment Limited:  Quotation on the London Stock Exchange



Prodesse Investment Limited ('Prodesse') announces that the currency in which
its ordinary shares are quoted on the London Stock Exchange will change from US
Dollars to pence Sterling on 22 November.



Prodesse believes that the change of quoted currency will enable a wider spread
of investors to participate in the superior income generated by the fund and
create a more liquid trading environment by bringing it into line with other
quoted UK funds and enabling inclusion into the FTSE Actuaries UK Series of
indices.



Assets, Earnings & Dividends:

Prodesse invests in a range of securities solely within the US mortgage-backed
market of AAA and implied AAA rated securities.  These assets and the income
they generate are denominated in US Dollars.  As such, Prodesse intends to
continue to provide earnings and NAV information to the market in US Dollars, in
line with many other UK quoted companies.  Prodesse already provides the choice
to investors to receive quarterly dividends in US Dollars or pence Sterling, and
will continue to do so.



This change of currency will only affect the visible quote of the trading price
of Prodesse shares in the market, and Prodesse does not intend to change the way
in which it invests or manages its portfolio as a result of this change.
Specifically, Prodesse does not intend to enter into any form of currency
hedging either in respect of the share price or the choice of currency for
receiving the dividend.







Enquiries:



Merrill Lynch:

Peter Tracey                 020 7996 4541

Will Smith                   020 7996 2490






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