Net Asset Value(s)

European Assets Trust NV
01 August 2005

NAV's as at close of business on 29/07/05

F & C Asset Management plc Investment Trusts announces the unaudited Net Asset
Value for the following Investment Trust.

                                                              (Pence per share)


European Assets Trust                                                   715.19


Note: NAVs are diluted, where appropriate.




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