Portfolio Update

GARTMORE ASIA PACIFIC TRUST PLC                        

In accordance with Listing Rule 21.20(l)(ii), Gartmore Asia Pacific Trust PLC
announces that at 31st December 2004 the ten largest investments were as
follows:

Company                                                 £'000     Percentage of
                                                                   Gross Assets
                                                                               
Mitsubishi Tokyo                                        1,565               4.9
                                                                               
Ito-Yokado Co                                           1,075               3.4
                                                                               
Nomura Holdings                                         1,063               3.3
                                                                               
Mitsui + Co                                               911               2.8
                                                                               
Matsushita Elc Ind                                        868               2.7
                                                                               
E.Sun Fin                                                 868               2.7
                                                                               
Toshiba Corp                                              866               2.7
                                                                               
Tokyu Corp                                                862               2.7
                                                                               
Taiwan Semiconduct                                        846               2.6
                                                                               
Mitsubishi Estate                                         842               2.6

At 31st December 2004 there were no investments with a value greater than 5% of
the Company's gross assets.

Gartmore Investment Limited

Secretaries

4th January 2005