Warrants

INVESCO Asia Trust plc                             

HEADLINE: Warrants

INVESCO Asia Trust plc announces that the final exercise of subscription rights
attaching to the Company's warrants which entitle holders to subscribe for one
new ordinary share of 10p for every warrant held at a price of 100p per share
closed at 5pm on 25 August 2004.

Warrants not exercised are now valueless. Warrant certificates are no longer
valid and should be destroyed. Accordingly, the warrants will cease to be
listed on the London Stock Exchange.

INVESCO Asset Management Limited

26 August 2004