Result of EGM

Govett Strategic Trust plc
10 December 2003



Govett Strategic Trust plc

Result of the First Extraordinary General Meeting


The Board of Govett Strategic Trust plc (the 'Company') is pleased to announce
that at the Extraordinary General Meeting of the Company held today, 10 December
2003, the resolutions approving the scheme of reconstruction of the Company (the
'Scheme') put to the meeting were duly passed.

The last date for receiving Forms of Elections was 8 December 2003. The results
of the Elections are shown in the table below:


Option                                                    Shares

Fidelity Special Values PLC                             25,277,201
Cash                                                    31,233,618
Gartmore Govett Money Market Fund                       9,695,594

Total                                                   66,206,413



A further Extraordinary General Meeting will be held on 22 December 2003 at
7.00am at which resolutions will be proposed for the winding up of the Company,
the appointment of liquidators, and the provision of appropriate powers to the
liquidators. Shareholder entitlements pursuant to the Scheme will be announced
by the Company in due course following the second extraordinary general meeting.



Expected Timetable

Friday 5 December 2003                                  Record date for entitlements of GST Shareholders
                                                        to the second interim dividend and the special
                                                        dividend expected to be paid on 18 December
                                                        2003;

Monday 8 December 2003                   9.00 a.m.      Latest time and date for receipt of Forms of
                                                        Proxy for the First EGM;

                                         5.00 p.m.      Record Date for entitlements of GST Shareholders
                                                        under the Proposals;

                                         5.00 p.m.      The Company's register of GST Shareholders
                                                        closes;

                                         5.00 p.m.      Latest time and date for receipt of Forms of
                                                        Election from GST Shareholders;

Wednesday 10 December 2003               9.00 a.m.      First EGM;

Thursday 18 December 2003                8.00 a.m.      Opening of registers in respect of Reclassified
                                                        Shares and dealings in Reclassified Shares
                                                        expected to commence;

                                                        Second interim dividend and special dividend
                                                        paid to GST Shareholders;

Friday 19 December 2003                  4.30 p.m.      Dealings in Reclassified Shares suspended;

                                         5.00 p.m.      Expected calculation time for the valuation of
                                                        the Company's assets for the purposes of
                                                        determining the entitlements of GST Shareholders
                                                        under the Proposals;

Saturday 20 December 2003                7.00 a.m.      Latest time and date for receipt of Forms of
                                                        Proxy for the Second EGM;

Monday 22 December 2003                  7.00 a.m.      Second EGM and Effective Date for the
                                                        implementation of the Proposals and commencement
                                                        of liquidation;

                                                        Fidelity Special Values PLC Shares and Gartmore
                                                        Govett Money Market Fund Units issued pursuant
                                                        to the Scheme;

                                                        Fidelity Special Values PLC Shares issued in
                                                        uncertificated form credited to the stock
                                                        accounts in CREST of the persons entitled
                                                        thereto;

Tuesday 23 December 2003                                Allocation acknowledgements expected to be
                                                        despatched in respect of Gartmore Govett Money
                                                        Market Fund Units;


Wednesday 24 December 2003                              Despatch of cheques;

Tuesday 30 December 2003                                Certificates expected to be despatched in
                                                        respect of Fidelity Special Values PLC Shares
                                                        issued in certificated form;


Wednesday 22 December 2004                              Listing of Reclassified Shares cancelled





Enquiries:

Sir John Riddell, Chairman                  0191 279 4222

Angus Gordon Lennox                         020 7588 2828
Cazenove & Co. Ltd

END


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