Board Changes

Stock Exchange Announcement                          

                        Liontrust Asset Management Plc                         

                                 Board Changes                                 

6th July 2004

Further to the announcement on 29th April 2004 we confirm that Ellen Winser and
William Carey (formerly Chairman and co-Joint Chief Executive respectively)
ceased to be Directors of the Company as at the conclusion of the AGM held
earlier today and that Bernard Asher has been duly elected as Chairman in Ellen
Winser's stead. Bernard Asher has also been appointed this day to the Audit,
Nomination and Remuneration Committees.

For further information please contact:

Liontrust Asset Management PLC Nigel Legge 020 7412 1700

END