Interim Management Statement

EP GLOBAL OPPORTUNITIES TRUST PLC

INTERIM MANAGEMENT STATEMENT FOR THE THREE MONTHS TO 31 MARCH 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 January 2012 to 31 March 2012 and should not be relied upon for any
other purpose.

OBJECTIVE

The 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

                               31 March        31 December           % change
                                                                             
                                   2012              2011                    
                                                                             
Net asset value per share        184.9p             169.9p                8.8
(including income)                                                           
                                                                             
Share price                      176.5p             167.0p                5.7
                                                                             
Share price discount to            4.5%               1.7%                   
net asset value                                                              
                                                                             
Net assets                      £101.1m             £95.1m                6.3

REVIEW OF THE PERIOD

Results

The net asset value total return for the three month period to 31 March 2012
was 8.8%. In comparison, the return from the FTSE All-World Index was 9.0%
while the return from the FTSE All-Share Index was 6.1%. All Index returns are
stated on a total return basis.

Share price and discount

During the quarter to 31 March 2012 the share price increased by 5.7% to
176.5p. The share price discount increased from 1.7% at 31 December 2011 to
4.5% at 31 March 2012.

In the period the Company repurchased 1,272,000 shares which were placed into
treasury. The total number of shares held in treasury at 31 March 2012 was
9,813,917 shares, representing 15.2% of the total number of shares in issue of
64,509,642 shares. The total number of shares in circulation was 54,695,725
shares.

Since 31 March 2012 the Company has repurchased into treasury 268,000 shares.
As at 23 April 2012 the total number of shares held in treasury totalled
10,081,917 shares, the total number of shares in circulation was 54,427,725
shares, with the total number of shares in issue, including treasury shares,
being 64,509,642 shares.

Gearing

The Company renewed its borrowing facility of £10 million for a further year on
13 January 2012. As at 31 March 2012 the equivalent of £4.5 million in Japanese
yen and US dollars had been drawn down under the facility.

Investment strategy and outlook

The first quarter of 2012 saw progress in removing a number of factors which
had adversely impacted equity markets in previous quarters. The US economy has
shown some signs of an improving economic outlook, although this has largely
been reflected in equity markets. Following the launch in December 2011 of the
long-term refinancing operations ("LTRO") by the European Central Bank, a
further commitment in February 2012 provided a crucial boost to confidence in
the European banking system. In Italy, the Monti-led government started to
address the underlying structural impediments to the country's economic
efficiency and growth. However concerns remain over the outlook for European
economies, particularly Spain and Greece. The Japanese authorities hardened
their stance on the Yen as its unfounded strength had been hampering economic
growth, particularly the export sector, and the Japanese equity market began to
perform better as a result. Although currency weakness has offset some of the
gains, we anticipate there will be further share price gains from higher
corporate profitability. The Chinese economy saw its lowest level of growth for
three years in the quarter under review, although it still remains in excess of
8%.

There continues to be economic uncertainty, particularly in relation to the
future of the Euro, which is expected to result in equity market volatility.
However we believe that, despite the recent rise in markets, equities continue
to remain reasonably attractive, particularly in comparison to government
bonds. As a consequence, we anticipate that we will remain fully invested, with
the scope to further increase the Company's equity exposure through full use of
the £10 million borrowing facility when and if suitable investment
opportunities are identified.

TOP TEN INVESTMENTS

Ranking   Company               Sector                Country          % of Net
                                                                         Assets
                                                                               
1.        Cisco Systems         Technology            United States         4.1
                                                                               
2.        China Mobile          Telecommunications    China                 3.4
                                                                               
3.        Illinois Tool Works   Industrials           United States         3.4
                                                                               
4.        Microsoft             Technology            United States         3.3
                                                                               
5.        Gazprom               Oil & Gas             Russia                3.3
                                                                               
6.        Sanofi                Health Care           France                3.2
                                                                               
7.        Mitsubishi            Industrials           Japan                 3.1
                                                                               
8.        Samsung Electronics   Technology            South Korea           3.1
                                                                               
9.        Deutsche Post         Industrials           Germany               3.0
                                                                               
10.       Singapore             Telecommunications    Singapore             3.0
          Telecommunications                                                   
                                                                               
                                                                           32.9

GEOGRAPHICAL DISTRIBUTION

31 March 2012                % of Net Assets 
                                             
Japan                                   24.8 
                                             
Europe                                  23.7 
                                             
United States                           19.2 
                                             
Asia Pacific                            16.6 
                                             
United Kingdom                          14.5 
                                             
Latin America                            2.3 
                                             
Net liabilities                         (1.1)
                                             
                                       100.0 

SECTOR DISTRIBUTION

31 March 2012                % of Net Assets 
                                             
Consumer Goods                          25.2 
                                             
Technology                              20.3 
                                             
Industrials                             16.5 
                                             
Financials                              11.8 
                                             
Telecommunications                      11.4 
                                             
Oil & Gas                                8.3 
                                             
Health Care                              5.1 
                                             
Basic Materials                          2.5 
                                             
Net liabilities                         (1.1)
                                             
                                       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 31 March 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

12 Charlotte Square

Edinburgh

EH2 4DJ

Tel: [phone]

Registered Office of the Company:

12 Charlotte Square

Edinburgh

EH2 4DJ

24 April 2012