NAV and dividend declaration

Graphite Enterprise Trust PLC
18 November 2005


                         ANNOUNCEMENT TO STOCK EXCHANGE

                         GRAPHITE ENTERPRISE TRUST PLC

                                18 November 2005


The Board of Graphite Enterprise Trust PLC is pleased to announce the payment of
a special dividend of 4.5p per share as a result of the exceptional level of
income received in the year to date, particularly from investments that have
subsequently been sold.  The dividend will be payable on 16 December 2005 to
shareholders on the register on 2 December 2005.


The Board also announces that the net asset value per share as at 30 September
2005 was 376.7p before making provision for the special dividend.  This
represents an increase in the net asset value per share of 15.9% over the net
asset value per share at 31 December 2004 of 324.9p (restated for the adoption
of IFRS) and compares with a rise of 13.9% in the FTSE All-Share Index.

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