Interim Management Statement

EP GLOBAL OPPORTUNITIES TRUST PLC

INTERIM MANAGEMENT STATEMENT FOR THE THREE MONTHS TO 30 SEPTEMBER 2012

The Board of EP Global Opportunities Trust plc ("the Company") announces its
Interim Management Statement as required by the UK Listing Authority's
Disclosure and Transparency Rules. This Statement is in respect of the period
from 1 July 2012 to 30 September 2012 and should not be relied upon for any
other purpose.

OBJECTIVE

The investment objective of EP Global Opportunities Trust plc is to provide
Shareholders with an attractive real long-term total return by investing
globally in undervalued securities. The portfolio is managed without reference
to the composition of any stock market index.

FINANCIAL SUMMARY

                                        30 September        30 June          % 
                                                2012           2012     change 
                                                                               
Net asset value per share (including           173.5p         170.0p       2.1 
income)                                                                        
                                                                               
Share price                                    164.5p         160.3p       2.6 
                                                                               
Share price discount to net asset                5.2%           5.7%           
value                                                                          
                                                                               
Net assets                                     £90.4m         £90.9m      (0.6)

REVIEW OF THE PERIOD

Results

The net asset value total return for the three month period to 30 September
2012 was 2.1%. In comparison, the return from the FTSE All-World Index was 4.0%
while the return from the FTSE All-Share Index was 4.7%. All Index returns are
stated on a total return basis.

Share price and discount

During the quarter to 30 September 2012, the share price increased by 2.6% to
164.5p. The share price discount narrowed from 5.7% at 30 June 2012 to 5.2% at
30 September 2012.

In the period, the Company repurchased 1,365,000 shares which were placed into
treasury. The total number of shares held in treasury at 30 September 2012 was
12,381,917 shares, representing 19.2% of the total number of shares in issue of
64,509,642 shares. The total number of shares in circulation was 52,127,725
shares.

Since 30 September 2012, the Company has repurchased into treasury 650,000
shares. As at 30 October 2012 the total number of shares held in treasury
totalled 13,031,917 shares, the total number of shares in circulation was
51,477,725 shares, with the total number of shares in issue, including treasury
shares, being 64,509,642 shares.

Investment strategy and outlook

The third quarter saw periodic bursts of hope over progress in Europe which
caused stock market rallies followed by disappointment and declines. Reduced
expectations of economic growth in China dominated the Asian markets as
investors adjusted to the slower rate of growth.

The valuation gap between companies perceived as having low earnings volatility
and more cyclical companies continued to stretch to extreme levels and this was
most clearly evident in US stocks during the quarter. However the potential
magnitude of reversal was highlighted on days when positive sentiment over the
global economy returned.

We remain confident that the dichotomy in valuation will be reversed and
continue to remain fully invested. We have the scope to further increase
exposure to equities as we are currently not fully utilising the Company's £10m
borrowing facility.

TOP TEN INVESTMENTS

                                                                       % of Net
                                                                               
Ranking   Company               Sector                Country            Assets
                                                                               
   1.     Google                Technology            USA                   3.4
                                                                               
   2.     Microsoft             Technology            USA                   3.4
                                                                               
   3.     Sanofi                Health Care           France                3.4
                                                                               
   4.     Japan Tobacco         Consumer Goods        Japan                 3.3
                                                                               
   5.     Wal-Mart Stores       Consumer Services     USA                   3.2
                                                                               
   6.     Samsung Electronics   Technology            South Korea           3.2
                                                                               
   7.     Illinois Tool Works   Industrials           USA                   3.2
                                                                               
   8.     Cisco Systems         Technology            USA                   3.2
                                                                               
   9.     Softbank              Telecommunications    Japan                 3.2
                                                                               
   10.    China Mobile          Telecommunications    China                 3.1
                                                                               
                                                                           32.6

GEOGRAPHICAL DISTRIBUTION

30 September 2012            % of Net Assets 
                                             
United States                           25.4 
                                             
Europe                                  22.7 
                                             
Japan                                   21.4 
                                             
Asia Pacific                            19.9 
                                             
United Kingdom                          13.0 
                                             
Net liabilities                         (2.4)
                                             
                                       100.0 

SECTOR DISTRIBUTION

30 September 2012            % of Net Assets 
                                             
Technology                              21.5 
                                             
Consumer Goods                          19.6 
                                             
Industrials                             16.9 
                                             
Telecommunications                      11.8 
                                             
Financials                              10.5 
                                             
Consumer Services                        8.4 
                                             
Oil & Gas                                5.8 
                                             
Health Care                              5.6 
                                             
Basic Materials                          2.3 
                                             
Net liabilities                         (2.4)
                                             
                                       100.0 

Past performance is not a guide to future performance.

The Directors are not aware of any significant event or transactions which have
occurred between 30 September 2012 and the date of publication of this
statement which have had a material impact on the financial position of the
Company.

Enquiries:

Sandy Nairn

Kenneth Greig

Edinburgh Partners Limited

Tel: [phone]

Registered Office of the Company:

27-31 Melville Street

Edinburgh

EH3 7JF

31 October 2012