PART DISPOSAL OF FTSE OPTION

Graphite Enterprise Trust PLC
23 November 2007

                         ANNOUNCEMENT TO STOCK EXCHANGE

                         GRAPHITE ENTERPRISE TRUST PLC

                                23 NOVEMBER 2007



                          PART DISPOSAL OF FTSE OPTION



Graphite Enterprise Trust PLC (the 'Company') announces that it has today sold a
further 25% of the FTSE 100 call option ('the Option') which was acquired in
October 2005.  A total of half of the option has now been sold.

The proceeds of the disposal were £7.6 million.  Total cash proceeds to date are
£17.3 million representing 123% of the cost of the Option of £14.0 million.  The
value of the Option immediately after the disposal was £15.2 million and it
provided continuing exposure to the Index of approximately £70 million.





For further information please contact:

William Eccles              020 7825 5300

Tim Spence                  020 7825 5300






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