IVPH Inv.Perp.Sel Hd

    The issuer wishes to advise that the announcement released on 30 October 2008
had incorrect figures regarding the number of shares to be admitted to the
official list and for trading on the London Stock Exchange. The correct figures
are shown below. All other details remain the same. Please accept our apologies
for any inconvenience caused.



                      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:

        570,219 UK Equity Shares              
                                              
         75,471 Global Equity Shares          
                                              
      2,584,957 Elected Hedge Fund Shares     
                                              
        648,060 Managed Liquidity Shares      

The respective Conversion Ratios were as follows:

  * For every UK Equity Share converted, holders will receive 0.90283 Global
    Equity Shares, 0.61813 Hedge Fund Shares or 0.66376 Managed Liquidity
    Shares;
   
  * For every Global Equity Share converted, holders will receive 1.10763 UK
    Equity Shares, 0.68466 Hedge Fund Shares or 0.73521 Managed Liquidity
    Shares;
   
  * For every Elected Hedge Fund Share converted, holders will receive 1.61779
    UK Equity Shares, 1.46059 Global Equity Shares or 1.07383 Managed Liquidity
    Shares;
   
  * For every Managed Liquidity Share converted, holders will receive 1.50656
    UK Equity Shares, 1.36016 Global Equity Shares or 0.93125 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 24 October 2008.

  

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 15 October
2008 in respect of the UK Equity, Global Equity and Managed Liquidity Shares.

The net changes to the number of shares outstanding following the conversion
and allotments are as follows:

       +450,830 UK Equity Shares                                     
                                                                     
       +137,172 Global Equity Shares                                 
                                                                     
     -2,584,368 Hedge Fund Shares                                    
                                                                     
     +2,375,077 Managed Liquidity Shares                             
                                                                     
       +157,424 Deferred Shares                                      

Following the conversion, the total number of listed Shares in issue (excluding
shares held in treasury) will be:

 

      45,448,539 UK Equity Shares                
                                                 
      35,750,775 Global Equity Shares            
                                                 
      19,868,208 Hedge Fund Shares; and          
                                                 
      23,661,658 Managed Liquidity Shares        

 

The Company has applied for following numbers of 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 31 October 2008.  It is
expected that Certificates in respect of the Resulting Shares will be posted by
7 November 2008.

       1,021,049 UK Equity Shares                
                                                 
         212,643 Global Equity Shares            
                                                 
             589 Hedge Fund Shares; and          
                                                 
       3,023,137 Managed Liquidity Shares        

The Deferred Shares, which have negligible economic value, will be purchased by
the company for a nominal sum and cancelled.

31 October 2008

Contact: Angus Pottinger 020 7065 3714



END

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