Disposal

Graphite Enterprise Trust PLC
17 June 2005


                         ANNOUNCEMENT TO STOCK EXCHANGE

                         GRAPHITE ENTERPRISE TRUST PLC


                                  17 June 2005





Graphite Enterprise Trust PLC ('Graphite Enterprise') has exchanged contracts
for the disposal of part of its investment in Wagamama, with completion expected
in approximately four weeks' time.  Under the terms of the disposal, Graphite
Enterprise will receive cash proceeds of £7.1 million and retain an interest of
12.3% which will be valued at £6.9 million immediately after the transaction.
The effect of this transaction, taken in isolation, is to increase Graphite
Enterprise Trust's net asset value per share by 10.0p.



On 18 May 2005 Graphite Enterprise announced that its net asset value per share
as at 31 March 2005 was 331.6p.







                      This information is provided by RNS
            The company news service from the London Stock Exchange