Tender Offer

European Assets Trust NV
24 October 2000


European Assets Trust NV
Tender Offer For Up to 50% of the Issued Share Capital

As at 3.00 p.m. (Dutch time) on Thursday 19 October 2000, the closing time for
the Tender, 65 tenders forms had been received in respect of 8,409,242 shares
representing approximately 33.7% of the issued share capital.  All shares
tendered will be accepted in full, subject to the terms of the offer.

John Ward, Chairman, commented:

'We are pleased with the outcome of the Tender which we believe demonstrates
widespread support for the Company.  We offered to repurchase up to 50% of the
share capital and this offer was taken up as to only 33.7% permitting those
who tendered more than half their holding to exit in full.  22.7% was
represented by basic entitlements with 10% made up of excess applications.

A key element in this outcome has been the performance of the Trust this year.
 The Net Asset Value increased over the nine months to 30 September 2000 by
43.7% in Sterling terms, which places the Trust at the head of its peer
group.'

A further announcement will be made in accordance with the Tender document
when the repurchase price has been determined.


Enquiries:

Howard Myles
UBS Warburg Ltd.                            Tel:  [phone]

Professor John Ward
Chairman                                    Tel:  [phone]