Half Year Trading Statement

Embargoed until 0700 hours, 25 September 2007

                        Liontrust Asset Management PLC                         

                          Half Year Trading Statement                          

Liontrust Asset Management PLC ("Liontrust" or "the Group"), the specialist
equities fund management group, today publishes a trading update for the six
months ending 30 September 2007 (the "period").

Funds under management

On 25 September 2007 funds under management stood at £5.474 billion, a decrease
of 0.6% from the £5.505 billion at the Company's year end of 31 March 2007.

Performance fees

Performance fees of £211,000 were earned on two institutional accounts in the
period and these fees generated an operating profit, after compensation, of
approximately £95,000. By comparison the operating profit contribution from
performance fees in the six months to 30 September 2006 was nil. Performance
fees owing stand at £5.5 million and if out-performance is maintained will fall
due for payment in the second half. These of course vary as performance varies
and could be lost if performance suffers and would increase if performance is
stronger still.

Performance of our funds in the calendar year to date has maintained a positive
trend despite recent market volatility. The new European hedge fund is up 11.4%
in the calendar year to the end of August which included strong performance
last month.

Funds flow

A net £36 million of low margin institutional assets was withdrawn in the
period with further net outflows of £31 million in transition, reflecting the
long term industry trend of pension funds switching assets to alternatives.

Gross sales of our unit trusts and offshore funds averaged a healthy £26
million per month, totalling £151m for the period; net redemptions totalled £29
million in the period.

In addition, we have been notified by a multi-manager client their intention to
terminate their £380 million Large Cap mandate in November. The impact of this
withdrawal on current market expectations for this year's operating profits is
likely to be less than 3% and could be more than offset by performance fees if
they are maintained.

European Team

£118 million has been raised for the European process as at 25 September 2007,
which is ahead of our expectations. Overall performance of the various
portfolios based on the process since inception and year to date is strong and
we are confident of raising more money during the remainder of the year. The
team's excellent track record is becoming more firmly established and the
differentiation their investment process offers is standing out more and more
from the crowd as they approach the first anniversary of its launch in
December.

Notice of Interim Results

The announcement of the Group's results for the six months ended 30 September
2007 will be published on 12 November 2007.

Nigel Legge, Chief Executive of Liontrust, said:

"We have had a satisfactory half year, having earned some performance fees.
Prospects for the remainder of the year remain good for attracting inflows,
given the continuing success of our European team and the good performance
across our range of UK funds. We therefore remain confident of making solid
progress for the financial year as a whole."

For further information please contact:

Liontrust Asset Management PLC 020 7412 1700

Nigel Legge

Vinay Abrol

Altium 020 7484 4040

Garry Levin

Nick Tulloch

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. Nothing in this announcement should be construed as a
profit forecast.


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