Statement re top ten investments

GARTMORE DISTRIBUTION TRUST PLC                        

In accordance with Listing Rule 21.20(l)(ii), Gartmore Distribution Trust PLC
announces that at 31st January 2004 the ten largest investments were as
follows:

Company                                                 £'000     Percentage of
                                                                   Gross Assets
                                                                               
Investec High Income Ords                             775,000              9.6%
                                                                               
City of Oxford Geared Income Ords & Incs              717,900              8.9%
                                                                               
Exeter Financials Ords                                330,000              4.1%
                                                                               
Framlington 2nd Dual Incs                             264,000              3.3%
                                                                               
Invesco Geared Opportunities Ords                     101,250              1.3%
                                                                               
Murray Extra Return Incs                               95,000              1.2%
                                                                               
Martin Currie Enhanced Ords                            94,300              1.2%
                                                                               
Gartmore High Income Ords                              93,239              1.2%
                                                                               
Morley Absolute Growth Ords                            55,500              0.7%
                                                                               
BFS UK Dual Return Incs & Prefs                        44,619              0.6%

Gartmore Investment Limited

Secretaries

3 February 2004