Director Shareholding

Deutsche Equity Income Trust PLC
16 September 2004

RNS
London Stock Exchange 
10 Paternoster Square
London
EC4M 7LS

16 September 2004

Dear Sirs

We wish to inform you that we have today been notified that Mrs A M Rowlands,
the wife of Mr C J Rowlands a director of the Company, did on 25 June 2004
purchase through the dividend reinvestment option in the Company's Saving Plan
51 of the Company's ordinary shares at a price of 217p per share.

Yours faithfully

M Pope
Company Secretary


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