GVA Govett Asian

RNS Number:7970F
Govett Asian SmallerCo'sInv.Tst Ld
25 June 2001

Govett Asian Smaller Companies Investment Trust Limited

Result of Extraordinary General Meeting

The Board of Govett Asian Smaller Companies Investment Trust Limited (the
"Company") announces that the resolutions put to the extraordinary general
meeting of the Company convened for today have been defeated. Over 88 per cent
of shareholders voting representing 54.8 per cent. of shares (10,005,974
shares) voted against the resolutions.

Accordingly the Board will seek to enhance shareholder value and make the
Company more attractive to investors by adopting several measures as follows:


  * The Board intends to be active in using and seeking to renew the
    authority to buy back shares.

  * The Board undertakes within three years to put an ordinary resolution to
    Shareholders to continue the life of the Company.

  * The Board and the Manager will work to limit the total expense ratio of
    the Company to no more than 2.2 per cent. of the average net assets of the
    Company over an accounting period.

  * The Board will aim to improve demand for the Company's shares, and widen
    the shareholder base by supporting the manager's new retail sales and
    marketing strategy.

Peter Robertson, Chairman, said :-


"GASCIT has a strong performance record relative to its benchmark index and is
well positioned to benefit from a sustained recovery in Asian stockmarkets.
The Board are encouraged by the support shareholders have demonstrated for the
continuation of the Company".

Enquiries:

Peter Robertson                       Tel: 01672 811 535

Chairman

James de Sausmarez                    Tel: 0207 378 7979

Govett Investments

Angus Gordon Lennox                   Tel: 0207 588 2828

Cazenove & Co. Ltd

Jonathan Flint / Stephanie Barrett    Tel: 0207 638 9571

Citigate Drewe Rogerson

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