IVPH Inv.Perp.Sel Hd

    INVESCO PERPETUAL SELECT TRUST PLC                       

                                                                               

Headline: Conversion of Shares

 

The Board of Invesco Perpetual Select Trust plc (the `Company') announces that
valid Conversion Notices have been received or deemed to have been received in
respect of:

      1,970,228 UK Equity Shares              
                                              
        577,951 Global Equity Shares          
                                              
        184,742 Elected Hedge Fund Shares     
                                              
        570,511 Managed Liquidity Shares      

The respective Conversion Ratios were as follows:

  * For every UK Equity Share converted, holders will receive 0.93408 Global
    Equity Shares, 0.87496 Hedge Fund Shares or 1.07339 Managed Liquidity
    Shares;
   
  * For every Global Equity Share converted, holders will receive 1.07057 UK
    Equity Shares, 0.93671 Hedge Fund Shares or 1.14914 Managed Liquidity
    Shares;
   
  * For every Elected Hedge Fund Share converted, holders will receive 1.14291
    UK Equity Shares, 1.06757 Global Equity Shares or 1.22678 Managed Liquidity
    Shares;
   
  * For every Managed Liquidity Share converted, holders will receive 0.93163
    UK Equity Shares, 0.87022 Global Equity Shares or 0.81514 Hedge Fund
    Shares.
   
The Conversion Ratios are based on the relative net asset values of the
Company's Share classes as at close of business on 26 October 2007.

  

Individual Shareholders' entitlements on conversion will be rounded down to the
nearest whole number of Shares. Fractional entitlements will be aggregated and
sold in the market. The Shares arising or allotted pursuant to the conversion
will rank pari passu with the existing Shares of the relevant class and, for
the avoidance of doubt, will not rank for the dividends declared on 16 October
in respect of the UK Equity, Global Equity and Managed Liquidity Shares.

The number of shares arising or allotted pursuant to the conversion is as
follows:

        577,328 UK Equity Shares                                     
                                                                     
        655,409 Global Equity Shares                                 
                                                                     
        475,128 Elected Hedge Fund Shares                            
                                                                     
      1,620,377 Managed Liquidity Shares                             
                                                                     
        129,486 Deferred Shares                                      

Following the conversion, the total number of listed Shares in issue will be:

 

      46,542,819 UK Equity Shares                
                                                 
      38,015,247 Global Equity Shares            
                                                 
      20,933,641 Hedge Fund Shares; and          
                                                 
      22,576,267 Managed Liquidity Shares        

 

The Company has applied for the Shares arising or allotted pursuant conversion
(other than the Deferred Shares) to be admitted to the Official List and to
trading on the London Stock Exchange. Dealings in such shares are expected to
commence at 8.00 a.m. on 2 November 2007.  It is expected that Certificates in
respect of the Resulting Shares will be posted by 9 November 2007.

                                                                               

1 November 2007

Contact: Angus Pottinger 020 7065 3714



END

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