Result of AGM

British Empire Sec & Gen Tst PLC
16 December 2004


British Empire Securities and General Trust plc - Result of AGM


British Empire Securities and General Trust plc announces that at the Annual
General Meeting of the Company held on Thursday 16 December 2004, all 9
resolutions put to the meeting were passed, including the below Special
Resolutions.

In addition, Mr John Walton retired as a Director of the Company at the close of
the Meeting.




SPECIAL RESOLUTIONS

THAT the Directors be and they are hereby generally and unconditionally
authorised and empowered to exercise all of the powers of the Company to allot
relevant securities (as defined in Section 80 of the Companies Act 1985 ('Act'))
pursuant to Section 95 of the Act as if Section 89(1) of the Act did not apply
to any such allotment provided that this authority and power shall expire at the
earlier of the conclusion of the next Annual General Meeting of the Company or
15 March 2006 and shall be limited to:

        (i)     the allotment of any such securities having an aggregate nominal
        value not exceeding £800,400 (being approximately 5 per cent of the
        equity capital currently in issue); and

        (ii)     the allotment of equity securities at a price of not less than
        the net asset value per share on the day preceding allotment or, if
        earlier, the agreement to allot;

save that the authority and power hereby granted shall enable the Company to
make offers or agreements which would or might require any such securities to be
allotted after the expiry of such period and the Directors may allot such
securities in pursuance of such offers or agreements as if the authority hereby
granted had not expired.

THAT the Company be and is hereby authorised in accordance with Section 166 of
the Companies Act 1985 to make market purchases (within the meaning of Section
163 of the said Act) of the Ordinary shares of 10p each in the Company
('Shares') provided that:

        (i)      the maximum number of Shares hereby authorised to be purchased
        is 23,996,005

        (ii)     the minimum price which may be paid for a Share shall be £0.10;

        (iii)    the maximum price (exclusive of expenses) which may be paid
        for a Share shall be 5 per cent above the average of the mid-market
        values of the Shares on the Official List of the London Stock Exchange
        for the 5 business days immediately preceding the day of purchase; and

        (iv)     unless otherwise varied or reviewed, the authority hereby
        conferred shall expire on 15 March 2006 save that the Company may, prior
        to such expiry, enter into contract(s) to purchase Shares which will or
        may be completed or executed wholly or partly after such expiry and the
        Company may purchase such Shares as if the authority hereby granted had
        not expired.


Phoenix Administration Services Limited - Secretary

16 December 2004


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