RNS Number:8808T
Advance Developing Markets Tst PLC
06 January 2004


Advance Developing Markets Trust is pleased to announce that the Fund's NAV (unaudited) as at 31 December was 173.1p.
This represents an absolute gain of 48.4% and relative outperformance of the fund's benchmark of 8.0% during the
calendar year.



This is the fifth consecutive calendar year in which the trust has generated excess NAV returns over its benchmark
index, the S&P/IFC Emerging Markets Regional Investable Composite Index (Sterling denominated). During those five years
Advance Developing's NAV has risen by 107.2% compared to a gain of just 44.7% in the benchmark.



With the popularity of emerging markets increasing and discounts on closed end funds continuing to narrow, or turn to
premiums, the managers of Advance Developing believe that the Company is well positioned for another year of strong
performance in both relative and absolute terms.



We would like to thank all shareholders for their continued support during 2003 and wish you all a prosperous 2004.












                      This information is provided by RNS
            The company news service from the London Stock Exchange
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