Chairman's Statement

Foreign&Colonial Enterprise Tst PLC
25 April 2000


FOREIGN & COLONIAL ENTERPRISE TRUST PLC

ANNUAL GENERAL MEETING ON 25 APRIL 2000

CHAIRMAN'S STATEMENT

Since the year end of Foreign & Colonial Enterprise Trust PLC ('FACET') on 31
December 1999 there has been significant volatility in stockmarkets.  In this
context we thought it useful to report that in the period from 1 January 2000
to the close of business on 20 April 2000 the quoted portfolio of FACET
increased by 3.8% compared with a decrease of 8.7% in the FTSE All-Share
Index.  The effect of this increase was to add £5.7 million (6.1p per share)
to the net assets attributable to shareholders.  This does not take account of
any change in the unquoted portfolio since 1 January.

The net asset value as at 31 March 2000 will be announced on 23 May 2000
following the normal quarterly board meeting.

As noted in the Annual Report Mr Peter Burton is retiring from the Board at
the conclusion of the Annual General Meeting.