Interim Management Statement

Invesco Asia Trust plc                             

                         Interim Management Statement                          

                   for the Three Months ended 31 January 2008                   

Objective of the Company

The objective of Invesco Asia Trust plc is to provide long-term capital growth
by investing in a diversified portfolio of Asian and Australasian companies.
The Company aims to achieve growth in its net asset value in excess of the
Morgan Stanley Capital International All Countries Asia Pacific ex-Japan Index,
measured in sterling.

Material Events

On 22 November 2007, the Company bought back 3,175,000 ordinary shares at a
price of 108.5p per share. On 23 November 2007, a further 1,650,000 ordinary
shares were bought back at 109.218p per share and on 13 December 2007,
5,000,000 were bought back at 119.0p per share. In all three instances, the
shares were purchased at a discount to net asset value and then cancelled. The
Company's issued share capital currently consists of 93,837,425 ordinary shares
of 10p each.

No other material events occurred in the period.

Dividends

No dividends were declared in the period.

Performance - Total Return

                              3 Months      1 Year      3 Years      5 Years   
                                                                               
Share Price                    -14.9%       11.4%        80.5%        188.7%   
                                                                               
Net Asset Value                -16.3%       15.5%        83.0%        169.5%   
                                                                               
MSCI (All Countries) Asia      -17.5%       15.6%        65.4%        144.7%   
                                                                               
Pacific ex Japan Index                                                         
                                                                               
(Sterling Adjusted)                                                            

Source: Fundamental Data

Share Price and Discount

                                 As at           For the Three Months Ended    
                                                                               
                            31 January 2008            31 January 2008         
                                                                               
                                                  High       Low      Average  
                                                                               
Ordinary shares mid-market       104.0           122.0      104.0      114.6   
                                                                               
price (pence)                                                                  
                                                                               
Discount                         11.3%           13.4%       4.6%      10.4%   

Source: Datastream

Assets and Gearing

The Manager is authorised to borrow up to 20% of net assets for investment
purposes and, when necessary, for liquidity purposes.

                                    31 January        31 October         Change
                                                                               
                                          2008              2007               
                                                                               
Total Gross Assets (£m)                  119.6             148.9         -19.7%
                                                                               
Of which cash (£m)                         2.9               1.2               
                                                                               
Borrowings (£m)                            9.5               3.5               
                                                                               
Net Asset Value (pence)                  117.3              140.2†       -16.3%
                                                                               
Actual Gearing                             109               102               
                                                                               
Asset Gearing                              107               102               

† ex dividend

`Actual Gearing' reflects loans drawn down, whereas `Asset Gearing' reflects
the amount of loans invested in the portfolio. A figure of 100 means that the
Company has no gearing.

Geographical Breakdown of Portfolio

                            31 January      31 October
                                                      
                                  2008            2007
                                                      
Hong Kong                        28.5%           30.3%
                                                      
Taiwan                           13.8%           11.9%
                                                      
Australia                        12.8%           11.9%
                                                      
Korea                            11.0%           15.4%
                                                      
India                            10.3%            8.8%
                                                      
Singapore                         8.9%            6.4%
                                                      
Malaysia                          3.9%            3.6%
                                                      
UK                                3.3%            2.8%
                                                      
China                             2.8%            4.4%
                                                      
Philippines                       2.8%            2.6%
                                                      
Indonesia                         1.3%            1.4%
                                                      
Thailand                          0.6%            0.5%

Top 10 Holdings

Ranking  Investments            Market of      % of      Bought/     Ranking   
                                                                               
Now                              Listing     Portfolio     Sold         at     
                                                                               
                                                            in      31 October 
                                                                               
                                                          Period       2007    
                                                                               
1        China Mobile           Hong Kong      4.7%         S           1      
                                                                               
2        Jardine Matheson       Hong Kong      4.6%         B           3      
                                                                               
3        BHP Billiton           Australia      4.5%                     2      
                                                                               
4        Taiwan Semiconductor     Taiwan       3.7%         B           11     
                                                                               
         Manufacturing                                                         
                                                                               
5        Samsung Electronics   South Korea     3.5%                     4      
                                                                               
6        Newcrest Mining        Australia      2.3%         S           7      
                                                                               
7        Wharf                  Hong Kong      2.3%         B           15     
                                                                               
8        QBE Insurance          Australia      2.1%         B           16     
                                                                               
9        ABC Learning Centre    Australia      2.1%         B           28     
                                                                               
10       DBS                    Singapore      2.0%         B           18     

Maximum Exposure Limits

The maximum holding in any single investment in a company or combined exposure
to Group related companies is limited to 5% and 15% of gross assets at the time
of investment.

Changes to Share Capital

                                         Ordinary Shares of 10p each      
                                                                          
                                         Issued             Treasury      
                                                                          
As at 31 October 2007                  103,662,425              0         
                                                                          
Ordinary shares bought back            (9,825,000)              0         
                                                                          
Ordinary shares issued                      0                   0         
                                                                          
Treasury shares cancelled                   0                   0         
                                                                          
As at 31 January 2008                  93,837,425               0         

Price and Performance

The Company's Ordinary shares are listed on the London Stock Exchange and the
price is published in the Financial Times under `Investment Companies' and in
the Daily Telegraph under `Investment Trusts'.

The Company's net asset value is calculated on a daily basis and can be viewed
on the London Stock Exchange website at www.londonstockexchange.com.

Further information can be obtained from Invesco Perpetual as follows:

Free Investor Helpline: 0800 085 8677

Internet address: www.invescoperpetual.co.uk/investmenttrusts

The information provided in this statement should not be considered as a
financial promotion or recommendation.

Interim management statements are expected to be published in August and
February each year.

For and on behalf of

Invesco Asset Management Limited

19 February 2008