AGM Statement

Piccadilly Growth Trust PLC

The Board of Piccadilly Growth Trust PLC are pleased to announce that all
resolutions at the Annual General meeting held on 28 August 2003 were carried
as recommended by directors.

In particular, Resolution 8 to wind up the Company was rejected unanimously.

Resolution 15 was passed and the Company name is therefore Artemis Alpha Trust
PLC with effect from 29 August 2003.

Copies of the special resolutions passed at the meeting will be submitted to
the UK Listing Authority and will be available for inspection at the UK Listing
Authority's Document Viewing Facility, which is situated at:

Financial Services Authority

25 The North Colonnade

Canary Wharf

London E14 5HS

Tel no: 020 7676 1000

29 August 2003