Dividend Suspension

Gartmore Monthly Income Tst PLC
13 March 2002



13 March 2002


             Gartmore Monthly Income Trust PLC ('Gartmore Monthly')

                 and GMIT Securities PLC (together the 'Group')



The Directors of Grange Monthly announce that, pending completion of their
review of the viability of the Group following the redemption of ZDP shares in
April 2002, payment of the ninth interim dividend of 1.1p per ordinary share,
which was announced on 18 February 2002, has been suspended. Subject to the
Directors concluding that the Group is viable, or otherwise being in a position
to pay dividends, payment of the ninth interim dividend and any further
dividends in respect of the period to 30 April 2002 may be made in due course.


The Directors expect to write to Ordinary Shareholder and ZDP Shareholders at
the earliest practical date, which is expected to be not later than 25 April
2002, to report the outcome of their review of the ongoing viability of the
Group.

Enquiries:
Roger Wood                                            020 7782 2000

Chairman

Vivien Gould/Richard Prvulovich                       020 7782 2000

Gartmore Investment Limited

Ian Davis                                             020 7678 8000

Hoare Govett Limited





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