Result of EGM

Gartmore Monthly Income Trust PLC ('Gartmore Monthly')             

      and GMIT Securities PLC ('GMIT Securities') (together the 'Group')       

Result of Gartmore Monthly extraordinary general meeting

The Directors of Gartmore Monthly announce that the special resolution, to
change the name of the company to Gartmore Distribution Trust PLC, proposed at
the extraordinary general meeting of Gartmore Monthly held earlier today was
passed.

Result of GMIT Securities extraordinary general meeting and separate general
meeting of ZDP shareholders

The Board of GMIT Securities announces that the special resolution, in respect
of the proposals under which the company will make an initial distribution to
ZDP shareholders and seek to realise its remaining income portfolio in a
controlled manner by no later than 30 April 2004, proposed at the extraordinary
general meeting of GMIT Securities and the extraordinary resolution, to
sanction and effect the special resolution and implement the proposals,
proposed at the separate general meeting of ZDP shareholders have each been
passed. The special resolution also approved the change in name of the company
to GDT Securities PLC.

Accordingly, it is anticipated that the initial distribution of redemption
proceeds will be made to all ZDP Shareholders on the register as at close of
business on 13 May 2002 at 109.37p per ZDP Share, being the full pre-determined
capital entitlement of such shares as at 30 April 2002, in respect of 80.0 per
cent. of their holdings on or around 17 May 2002.

As previously announced, under the controlled realisation proposals, further
distributions will be made to ZDP shareholders in April 2003 and April 2004 or
such other dates as the Directors believe is appropriate (for clarification, in
each case when cash realisations of at least £5 million have been achieved).

Following further recent realisations, as at 10 May 2002, the Group's income
portfolio is comprised as follows (at mid-market prices):

                                 % of total assets            %*     £ million*
                                 invested in other                             
                                  split capital or                             
                                high income trusts                             
                                                                               
Class A investments                      0% to 25%          70.8           18.6
                                                                               
Class B investments                     25% to 50%          19.3            5.0
                                                                               
Class C investments                       Over 50%           9.9            2.6
                                                                               
Total                                                      100.0           26.2

* Source: Gartmore Investment Limited

Enquiries:

Ian Williams                            07939 543 587                          
                                                                               
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