INVESCO Asset Management Limited                        

HEADLINE: Net Asset Value

It is announced that at the close of business on 7 January 2004, the unaudited
net asset value per share (AITC basis) of the following investment trust
company managed by INVESCO Asset Management Limited is:-

Company                                    Undiluted Diluted Undiluted  Diluted
                                                                               
                                             Capital Capital       Cum      Cum
                                                                               
                                             (pence) (pence)    Income   Income
                                                                               
                                                               (pence)  (pence)
                                                                               
INVESCO Perpetual European Investment         125.76       -    Note 1        -
Trust plc                                                                      
                                                                               

Note:

1. The NAV including pro rata income for the financial year is not announced as
there is currently no expectation that there will be any income to distribute.



8 January 2004



END