INVESCO Asset Management Limited                        

HEADLINE: Net Asset Value

It is announced that at the close of business on 19 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 Trust     130.17       -    Note 1       -
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.

END