AGM and Interim Management Statement

For immediate release

2 July 2008

                          Stock Exchange Announcement                          

                        LIONTRUST ASSET MANAGEMENT PLC                         

                     AGM and Interim Management Statement                      

Liontrust Asset Management PLC ("Liontrust" or "the Group"), the independent
fund management group specialising in equities, is today publishing its AGM
Statement in advance of the Group's Annual General Meeting, which is to be held
this morning. Liontrust is also today issuing its Interim Management Statement
for the period 1 April 2008 to 30 June 2008 as required by the FSA's Disclosure
and Transparency Rules.

AGM Statement

The year ended 31 March 2008 has been a busy year for Liontrust, with the
introduction and marketing of our new European investment processes. We have
also been actively marketing our Growth and Large Cap. processes as they
continue to build on their long-term track record. We have reinforced the
positive performance message on our Income Fund, which now yields over 5%, and
we have played an important part in establishing a new website
(www.fundfact.com) that allows investors to compare UK Equity Income funds
using a variety of different criteria. In addition, we have established a U.S.
presence to market to North American institutions. Altogether good progress was
made in the financial year ended 31 March 2008.

Compared to the previous financial year, profit before tax for the year was 40%
higher at £16.5 million and basic earnings per share was 42% higher.

The Board has recommended a final dividend for the year ended 31 March 2008 of
10.0 pence per share with a further 15.5 pence per share as a special dividend,
payable on 9 July 2008. The total dividend, including the special dividend, is
88% higher than the previous year (4% excluding the special dividend).

Interim Management Statement

This Interim Management Statement is for the period 1 April 2008 to 30 June
2008 (the "Interim Period").

Funds Under Management

On 30 June 2008, our funds under management stood at £4.808 billion, compared
with £4.707 billion on 31 March 2008. The FTSE All-Share Index fell by 2.4%
over the same period.

Performance

Specific performance statistics on our funds are widely available from many
sources including our website, www.liontrust.co.uk. In general our performance
has been strong in the Interim Period, building on our good long-term track
record.

Funds Flow

Gross sales of our unit trusts and offshore funds totalled a healthy £150
million and net redemptions were £27 million in the Interim Period.

Net inflows of institutional assets amounting to £40 million are currently in
transition with a net £7 million having been invested in the Interim Period.

European Team

At the end of the Interim Period, £260 million has now been raised for the
European process since inception with a further £10 million currently in
transition. Performance across our range of European funds since their
inception has been strong and we are confident of raising more money for them
over the coming months.

In particular, attention is drawn to the movement in the share price of our
European hedge fund, which is up 4% in the calendar year to 31 May 2008 and up
35% since launch*.

UK Small Cap. and UK Opportunities Team

As announced on 27 May 2008, Julian Fosh joined Liontrust on 2 June 2008 to
work with Anthony Cross in developing our UK Small Cap. and UK Opportunities
equity investment funds.

It is proposed that a new group entity, Liontrust Investment Partners LLP
("LIP"), be established for the new team, based on the structure that was
successfully put in place for our European team in 2006.

The arrangements relating to LIP have been agreed in principle, but are subject
to contract and subsequent shareholder approval. Accordingly, a further
announcement will be made in due course.

Approach

On 20 May 2008, Liontrust announced that it had received an approach which may
or may not lead to an offer being made for the Group. Discussions, which are at
an early stage, are continuing with more than one party and there can be no
certainty that an offer will be made, or as to the terms on which any offer
might be made. A further announcement will be made in due course.

Half year trading update

A trading update for the half year will be released on 25 September 2008.

Outlook

Our results for the year ended 31 March 2008 were sound and have set us up well
for the challenges ahead. We have made a good start to this year in terms of
fund performance, feedback from our U.S. initiative is encouraging and we are
confident of raising more assets for the European hedge fund. Although it is
too early to rely on any performance fees being earned in the current financial
year the prospects for earning such fees are promising. We have a talented
group of professionals who have worked together for a long time and we are
delighted with the new additions we have made to the team, both on the fund
management side and with the appointment of Rob Page as Marketing Director. The
stable partnership culture and strong sense of goodwill that we have built
across a wide spectrum of clients will remain key aspects of the business.

We continue to explore opportunities for new products and to look for suitably
talented people who can deliver them.

We are confident of making good progress again this year.

* Liontrust European Long/Short Fund launched on 6 December 2006. Source:
Liontrust International (Guernsey) Limited

For further information please contact:

Liontrust Asset Management PLC 020 7412 1700

Nigel Legge www.liontrust.co.uk

Vinay Abrol

Altium 020 7484 4040

Nick Tulloch

Sam Fuller

Smithfield 020 7360 4900

Reg Hoare

Miranda Good

Other information

The release, publication, transmission or distribution of this announcement in
jurisdictions other than the United Kingdom may be restricted by law and
therefore persons in such jurisdictions into which this announcement is
released, published, transmitted or distributed should inform themselves about
and observe such restrictions. Any failure to comply with the restrictions may
constitute a violation of the securities laws of any such jurisdiction.

This announcement contains certain forward-looking statements with respect to
the financial condition, results of operations and businesses and plans of the
Group. These statements and forecasts involve risk and uncertainty because they
relate to events and depend upon circumstances that have not yet occurred.
There are a number of factors that could cause actual results or developments
to differ materially from those expressed or implied by these forward-looking
statements and forecasts. Liontrust undertakes no obligations to publically
update or revise forward-looking statements, except as may be required by
applicable law and regulation (including the Listing Rules and the Disclosure
and Transparency Rules of the Financial Services Authority). Nothing in this
announcement should be construed as a profit forecast or be relied upon as a
guide to future performance.

ENDS