Investment policy

Govett Strategic Trust plc
30 October 2003


Govett Strategic Trust plc

Investment policy

The Board of Govett Strategic Trust plc (the 'Company') notes the publication of
the Investment Entities (Listing Rules and Conduct of Business) Instrument 2003
and announces that it is the Company's policy to invest no more than 15% of its
gross assets in other listed investment companies (including listed investment
trusts).

The Board also confirms its policy that the Company should not invest in the
shares of any split capital investment funds.


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