Interim Management Statement

EP GLOBAL OPPORTUNITIES TRUST PLC

INTERIM MANAGEMENT STATEMENT FOR THE THREE MONTHS TO 31 MARCH 2014

The Board of EP Global Opportunities Trust plc (the "Company") announces its
Interim Management Statement for the period from 1 January 2014 to 31 March
2014. This statement is required by the UK Listing Authority's Disclosure and
Transparency Rules and should not be relied upon for any other purpose.

OBJECTIVE

The objective of the Company 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 2014   31 December 2013        % change
                                                                               
Net asset value per share                         233.2p             233.6p           (0.2)
(including income)                                                             
                                                                               
Share price                                       217.8p             230.0p           (5.3)
                                                                               
Share price discount to net asset                   
value                                               6.6%               1.5%
                           
Net assets                                       £112.0m            £112.6m           (0.5)


REVIEW OF THE PERIOD

Results

The net asset value total return for the three month period to 31 March 2014
was -0.2%. In comparison, the return from the FTSE All-World Index was 0.5%
while the return from the FTSE All-Share Index was -0.6%. All Index returns are
stated on a total return basis.

Share price and discount

During the quarter to 31 March 2014, the share price decreased by 5.3 % to
217.8p. The share price discount increased from 1.5% at 31 December 2013 to
6.6% at 31 March 2014.

In the period, the Company repurchased 165,000 shares which were placed into
treasury. The total number of shares held in treasury at 31 March 2014 was
16,471,917 shares, representing 25.5 % of the total number of shares in issue
of 64,509,642 shares. The total number of shares in circulation was 48,037,725
shares.

Since 31 March 2014, the Company has repurchased into treasury 35,000 shares.
As at 15 April 2014, the total number of shares held in treasury was 16,506,917
shares, the total number of shares in circulation was 48,002,725 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
10 January 2014. As at 31 March 2014, the equivalent of £3.7 million in
Japanese yen had been drawn down under the facility.

Investment strategy and outlook

After a strong performance from Japanese equities during 2013, in the first
quarter of 2014 it appeared that investors were using Japanese shares as a
source of liquidity whenever any global macro-economic concerns emerged. Hence,
diverse events such as slowing economic growth in China and the Russian
assimilation of Crimea both seemed to presage falls in the Japanese equity
market. However, we continue to believe that many Japanese companies remain
undervalued and we have maintained the Company's high exposure to Japan.
Despite some sales, we have been finding new undervalued companies in Japan,
such as East Japan Railway which will benefit from the redevelopment of its
land and property assets. In the banking sector, we acquired Sumitomo Mitsui
Trust Bank.

An industry where we have seen value emerge is the Health Care sector. Improved
drug discovery and development techniques should help make research and
development in pharmaceuticals more efficient and improve long-term
profitability. We believe that this is not currently recognised by investors.
During the quarter, we added to the investment in AstraZeneca, which was
initiated in the latter part of 2013. In addition, we also purchased Novartis,
the Swiss-based pharmaceutical company. It appears that investors have also
underestimated the benefit of management changes at those pharmaceutical
companies. Towards the end of the quarter, we established an initial position
in Roche, another Swiss-based pharmaceutical company.

While overall there was minimal movement in world equity markets during the
first quarter of 2014, we consider that, following the significant market gains
in 2013, world equity markets are now at least fairly valued and could be
vulnerable to profit taking. However, with low interest rates in developed
markets expected to continue for some time, we believe equities will provide
reasonable returns and that we will be able to identify shares that offer good
long-term value.

PORTFOLIO OF INVESTMENTS

                                                                       % of Net
Rank   Company                    Sector               Country           Assets
                                                                               
 1     Piaggio                    Consumer Goods       Italy                3.0
                                                                               
 2     Qualcomm                   Technology           United States        2.9
                                                                               
 3     PostNL                     Industrials          Netherlands          2.9
                                                                               
 4     AstraZeneca                Health Care          United Kingdom       2.8
                                                                               
 5     Indra Sistemas             Technology           Spain                2.8
                                                                               
 6     KDDI                       Telecommunications   Japan                2.8
                                                                               
 7     Microsoft                  Technology           United States        2.8
                                                                               
 8     Swire Pacific              Industrials          Hong Kong            2.8
                                                                               
 9     Novartis                   Health Care          Switzerland          2.7
                                                                               
 10    Sumitomo Mitsui Financial  Financials           Japan                2.7
                                                                               
 11    Sumitomo Mitsui Trust      Financials           Japan                2.7
                                                                               
 12    Japan Tobacco              Consumer Goods       Japan                2.6
                                                                               
 13    Tyco International         Industrials          United States        2.6
                                                                               
 14    Terex                      Industrials          United States        2.6
                                                                               
 15    BNP Paribas                Financials           France               2.6
                                                                               
 16    Panasonic                  Consumer Goods       Japan                2.6
                                                                               
 17    East Japan Railway         Consumer Services    Japan                2.5
                                                                               
 18    ENI                        Oil & Gas            Italy                2.5
                                                                                
 19    Yamaha Motor               Consumer Goods       Japan                2.5
                                                                               
 20    Orange                     Telecommunications   France               2.5
                                                                               
 21    ABB                        Industrials          Switzerland          2.4
                                                                               
 22    Hutchison Whampoa          Industrials          Hong Kong            2.4
                                                                               
 23    Mitsubishi                 Industrials          Japan                2.4
                                                                               
 24    Fresenius Medical Care     Health Care          Germany              2.4
                                                                               
 25    Google                     Technology           United States        2.4
                                                                              
 26    Toyota                     Consumer Goods       Japan                2.3
                                                                               
 27    Genting Singapore          Consumer Services    Singapore            2.3
                                                                               
 28    Intesa Sanpaulo            Financials           Italy                2.3
                                                                               
 29    DBS                        Financials           Singapore            2.2
                                                                               
 30    BG                         Oil & Gas            United Kingdom       2.2
                                                                               
 31    KPN                        Telecommunications   Netherlands          2.2
                                                                               
 32    Dainippon Screen           Technology           Japan                2.1
                                                                               
 33    Toshiba                    Industrials          Japan                2.0
                                                                               
 34    HSBC                       Financials           United Kingdom       2.0
                                                                               
 35    Bridgestone                Consumer Goods       Japan                2.0
                                                                               
 36    Samsung Electronics        Consumer Goods       South Korea          2.0
                                                                               
 37    Misawa Homes               Consumer Goods       Japan                1.8
                                                                               
 38    Gazprom                    Oil & Gas            Russia               1.8
                                                                               
 39    Bank Mandiri               Financials           Indonesia            1.7
                                                                               
 40    Vodafone                   Telecommunications   United Kingdom       1.5
                                                                               
 41    Edinburgh Partners 
       Limited                    Financials -         United Kingdom       1.3
                                  unlisted                                     
                                                                               
 42   Edinburgh Partners 
      Prospect Fund               Financials - OEIC   Ireland               1.1

 43   Roche                       Health Care         Switzerland           0.5
                                                                               
      Total equity investments                                             99.2
                                                                               
      Cash & net current assets                                             0.8
                                                                               
                                                                          100.0

GEOGRAPHICAL DISTRIBUTION

31 March 2014                % of investments
                                             
Europe                                   32.0
                                             
Japan                                    31.2
                                             
Asia Pacific                             13.5
                                             
United States                            13.4
                                             
United Kingdom                            9.9
                                             
                                        100.0

SECTOR DISTRIBUTION

31 March 2014                % of investments
                                             
Industrials                              20.3
                                             
Consumer Goods                           19.0
                                             
Financials                               18.7
                                             
Technology                               13.1
                                             
Telecommunications                        9.1
                                             
Health Care                               8.5
                                             
Oil & Gas                                 6.5
                                             
Consumer Services                         4.8
                                             
                                        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 2014 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
27-31 Melville Street
Edinburgh
EH3 7JF

Tel: [phone]

Registered Office of the Company:

27-31 Melville Street
Edinburgh
EH3 7JF


16 April 2014