Dividend Declaration

European Assets Trust NV
10 January 2002

European Assets Trust NV ('EAT')


Stock Exchange Announcement

Issued on 10 January 2002


  * Increased net dividend yield to approximately 9.25 per cent

  * Net dividends for 2002 year of Euro 0.9 per share

  * Number one performance position in peer group over 1 and 2 years

  * Use of further gearing as opportunities arise




The Supervisory Board of EAT announces that, in line with its previously
stated dividend objective, it has authorised the Management Board to declare,
in respect of the year to 31 December 2002, dividends based on last year's net
yield of 8.5 per cent plus an additional amount this year (related to the
Company's tax position) taking the net dividend yield to approximately 9.25
per cent of the net asset value per share of Euro 9.6 at 28 December 2001.
This increased yield and the decline in net asset value over the year, results
in a net dividend for the year ended 31 December 2002 of Euro 0.9 per share
(2001: Euro 1.17). In determining the rate of dividend the Board has had
regard to the interests of shareholders as a whole by considering: the
Company's objective of paying dividends at a rate competitive with that paid
on the ordinary income shares of UK split capital investment trusts; the
Company's portfolio and capital structure including the capital reserve
position presently and looking forward to 2006; and prevailing market
conditions including falling interest rates and inflation. Dividends are paid
largely from the Company's capital in accordance with Dutch regulations.
Dividends are declared and paid monthly and net dividends will be equal in
size.


A net dividend of Euro 0.075 per share has been declared for January 2002 for
payment on 30 January 2002 to shareholders on the register on 18 January 2002,
having an ex-dividend date of 16 January 2002. Dutch withholding tax does not
apply to this January dividend payment. Subject to the Company's authority to
pay scrip dividends being renewed by shareholders in general meeting later
this month, shareholders can receive new shares in the Company in place of the
cash dividend by giving notice to the Company's UK registrars (gross dividends
are re-invested into shares of the Company at net asset value).


Against a background of declining equity markets, the Company has maintained
its number one performance position in its peer group over one and two years*.
The Managers continue to see attractive buying opportunities in quoted
medium-sized companies across the European Continent. In line with intentions
previously set out, the Company has entered into new banking facilities to
allow the Managers to gear the portfolio within the 20 per cent of assets
level permitted under the Articles. The Managers anticipate drawing down
amounts in the early part of the new year as opportunities arise.


The Boards, through their advisers, seek to achieve the most advantageous
possible treatment for the Company and its shareholders in respect of Dutch
tax. Where Dutch withholding tax applies to a monthly dividend, the net
dividend declared will be grossed up by the amount of the applicable
withholding tax.






For further information contact:


Millar Law, Fund Manager

Michael Campbell, Company Secretary

Friends Ivory & Sime plc               Tel [phone]

Managers




*Source : AITC, net asset value total return to 30 November 2001