Dividend Declaration

Artemis Alpha Trust PLC
10 May 2004

ARTEMIS ALPHA TRUST PLC ('the Company')

Declaration of interim dividend



The Board of the Company is pleased to declare a second interim dividend of 1.0p
per ordinary share (excluding the ordinary shares issued on 15 December 2003
('New Ordinary Shares'), which do not rank for the dividend) ('Existing Ordinary
Share')* for the year ended 30 April 2004. The dividend, which is in lieu of a
final dividend for the year, will be paid on 4 August 2004 to all eligible
shareholders on the Company's register of members at the close of business on 21
May 2004.

The Company confirms that, following payment of the second interim dividend on 4
August 2004, the New Ordinary Shares will rank pari passu in all respects with
the Existing Ordinary Shares of 1p each in the Company.

*The relevant SEDOL numbers are as follows:

Existing Ordinary Shares: 0435594

New Ordinary Shares: 3384693




BNP Paribas Secretarial Services Limited

Secretary


10 MAY 2004


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