Holding in Company

Gartmore Monthly Income Tst PLC
31 May 2001


                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     GARTMORE MONTHLY INCOME TRUST

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     ABERDEEN ASSET MANAGERS

3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18



4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

     SEE BELOW

5)   Number of shares/amount of stock acquired.



6)   ( N/A %) of issued Class

7)   Number of shares/amount of stock disposed

     1,324,834

8)   (1.21 %) of issued Class

9)   Class of security

     ORDINARY SHARES OF 1p

10)  Date of transaction

     29/5/01

11)  Date company informed

     30/5/01

12)  Total holding following this notification

     31,075,834
              
13)  Total percentage holding of issued class following this notification

     28.29%

14)  Any additional information

     SEE LETTER AND SCHEDULE BELOW

15)  Name of contact and telephone number for queries

     L J POWELL - 020-7782 2649

16)  Name and signature of authorised company official responsible for 
     making this notification

     Date of Notification ....31 MAY 2001


LETTER TO GARTMORE MONTHLY INCOME TRUST PLC
DATED:  30 MAY 2001

Gartmore Monthly Income Trust Plc - Ordinary 100p Shares

Aberdeen Asset Managers Limited write to inform you that they sold 1,324,834
shares of the above company, on the 29th May 2001, on behalf of The American
Monthly Income Trust Limited.

The American Monthly Income Trust Limited now holds 2,701,026 shares
representing 2.46% of the issued share capital of that class (previously 3.67%).

The total number of shares now managed by Aberdeen Asset Managers Limited and
its associated companies is 31,075,834 shares representing 28.29% of the issued
share capital of that class (previously 29.50%).

A SAR5 has been lodged with the Stock Exchange as notification of this
transaction and a breakdown of our holding is provided on the following
spreadsheet.

Gartmore Monthly Income Trust PLC Ordinary Shares held at   29-May-01
                                  
                                     Previous    %     Current    %    Movement
                                     Holding           Holding  
Aberdeen High    State Street 
Income Trust     Nominees A/C XCC4 11,080,000  10.09 11,080,000 10.09          0

Aberdeen Conv    HSBC Global Nominees
Income Trust     A/C 748639           858,500   0.78    858,500  0.78          0

American Monthly HSBC International
Income Trust     a/c 11769401       4,025,860   3.67  2,701,026  2.46 -1,324,834

Leveraged Income HSBC International
Fund             A/C 10980901       5,339,950   4.86  5,339,950  4.86          0


Danae Investment State Street Nominees
Trust            A/C XCD5             757,500   0.69    757,500  0.69          0

Jove Investment  State Street Nominees
Trust            A/C XCD6             454,500   0.41    454,500  0.41          0

Media & Income   State Street Nominees
Trust            A/C XCD7           1,000,000   0.91  1,000,000  0.91          0

European Growth  State Street Nominees 
& Income Trust   A/C XCJ8             375,000   0.34    375,000  0.34          0

European Monthly HSBC International
Income Trust     A/C 11493101       1,000,000   0.91  1,000,000  0.91          0

St Davids        RBSTB Nominees     2,000,000   1.82  2,000,000  1.82          0
Investment Trust 

Aberdeen Fund    State Street Nominees
of Inv Trusts    A/C XCF8             227,251   0.21    227,251  0.21          0

Aberdeen         State Street Nominees
Preferred        A/C XCC8           1,909,000   1.74  1,909,000  1.74          0
Income Trust    

Murray Emerging  Chase Nominees     1,250,000   1.14  1,250,000  1.14          0
Growth & Income
Trust           

Murray Global    Chase Nominees     2,123,107   1.93  2,123,107  1.93          0
Return Trust                       ---------- ------ ---------- ----- ----------
                                   32,400,668  29.50 31,075,834 28.29 -1,324,834
                                   ========== ====== ========== ===== ==========

FROM ABERDEEN ASSET MANAGERS LIMITED