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UK Select Trust Ld (UKT)

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Monday 05 September, 2005

UK Select Trust Ld

Offer Lapsed

UK Select Trust Limited
05 September 2005

UK Select Trust Limited

5 September 2005

UK Select Trust Limited - Tender Offer Proposals

On 31 August 2005 Elm Grove (Caymans), Ltd announced that its offer for UK
Select Trust Limited had lapsed, having received insufficient acceptances.

The Board of UK Select Trust Limited is now working to implement the tender
offer proposals set out in the Board's circular to shareholders of 4 August
2005.  It is expected that these proposals will be posted to shareholders during
the course of October 2005.


Jim Le Pelley                                                   01481 719516

Corporate Services                                              01481 721234
(Guernsey) Limited
Company Secretary

Andrew Zychowski/Joe Winkley                                    020 7623 8000
Dresdner Kleinwort Wasserstein

Dresdner Kleinwort Wasserstein, which is regulated by the Financial Services
Authority, is acting for the Company and for no-one else in connection with the
contents of this announcement and will not be responsible to anyone other than
the Company for providing the protections afforded to customers of Dresdner
Kleinwort Wasserstein, or for affording advice in relation to the contents of
this announcement or any matters referred to herein.

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