Pre-close Statement

24th March 2005

                          Stock Exchange Announcement                          

                        Liontrust Asset Management PLC                         

                           Pre-Close Trading Update                            

As at 23 March 2005, total funds under management stood at £5.205 billion. By
contrast funds under management were £4.95 billion on 26 March 2004 and £2.58
billion at the same time in 2003. Core earnings therefore remain strong and are
in line with market expectations.

Performance has remained mixed with the Large Cap and Growth processes
underperforming their benchmarks over the last year to 28 February 2005. The
Value and Small Cap processes have outperformed their benchmarks over the same
period.

Any performance fees earned in the period from 1 January 2005 to 31 March 2005
will be disclosed in the preliminary announcement of Liontrust's results for
the year ending 31 March 2005 due to be released towards the end of May 2005
but currently none are expected.

Following an internal review the finance function is being re-organised and
Vinay Abrol will add the role of Chief Financial Officer to his current
responsibilities of Chief Operating Officer. Andrew Yates will step down from
the Board with immediate effect and on 31 May 2005 will be leaving Liontrust.
Antony Morrison will be joining the Group as Head of Finance in May 2005 and
will report to Vinay Abrol. In addition he will join the subsidiary boards,
Liontrust Investment Funds Limited and Liontrust Investment Services Limited.

Andrew Yates has been Finance Director since 1997 during a period when
Liontrust grew assets under management from £0.179 billion to £5.205 billion.

Note to Editors

For further information please contact:

Liontrust Asset Management PLC: Nigel Legge 020 7412 1700

J P Morgan Cazenove: Edward Squire 020 7155 4633