Final Results

INVESCO Asia Trust PLC
13 June 2000

                         INVESCO ASIA TRUST PLC
                   UNAUDITED PRELIMINARY ANNOUNCEMENT
                    FOR THE YEAR ENDED 30 APRIL 2000


Chairman's Statement

'The year under review was characterised by significant crosscurrents in
global financial markets.  Particularly notable was the global
Technology-Media-Telecommunications ('TMT') euphoria, but strong global
economic growth and rising interest rates in Europe and the United States were
also important influences.  Asian equity market performance was greatly
distorted by the dominance of the TMT stocks, some of which reached extreme
valuations.  The subsequent correction, which started in April 2000, has
brought an element of reality back into stockmarkets.

Your Company has taken a relatively cautious approach to the momentum-driven
sectors and has maintained a broadly based portfolio throughout the period. 
As a consequence, we have been able to build steadily on the recovery in
shareholder returns reported last year.  Net assets per share have increased
from 72.8p at the beginning of the year to 87.5p at 30 April 2000, an increase
of 20.1%.  This compares with the 12.6% rise in our benchmark index, the MSCI
(All Country) Far East ex Japan Free Index, adjusted for sterling, over the
same period.

Drawings under our £10 million multi-currency loan facility have fluctuated
throughout the year and were maximised during February and early March 2000
but then partially repaid, ending the financial year at £3.06 million. 
Gearing levels were therefore somewhat variable throughout the year and at the
year end were 103.15.

Disappointingly, the growth in net asset value has not been reflected in the
price at which your Company's ordinary shares have traded, with the result
that the discount widened to a level above that of the average of other
investment trusts in our sector.  To avoid an overhang of stock in the market,
which would only have increased discount levels if left unchecked, your Board
exercised the authority conferred by shareholders last year and purchased in
the market a total of 1,500,000 ordinary shares for cancellation.  Following
the financial year end a further 4,000,000 ordinary shares were acquired for
cancellation.  On each occasion shares were purchased at prices reflecting a
substantial discount to net asset value thereby benefiting ongoing
shareholders.

Dividends

Income has been significantly lower this year than last.  This results from
our move towards a fully invested position during the year in the light of our
growing confidence in Asian equity markets.  The combination of a lower level
of income and increased expenses, predominantly management fees as asset
values improved, has meant that the net revenue available for distribution is
well below that of the previous year.  Nonetheless, your Board has resolved to
recommend maintaining the dividend at 0.65p per share.  If approved by
shareholders, payment of this dividend will necessitate drawing on revenue
reserves to the extent of £323,000.  Shareholders should note, however, that
in future years only the net revenue of that current year will be considered
for distribution to shareholders as dividend.

Outlook

In the opinion of your Directors and Managers, Asian markets are currently
undergoing a mid-cycle correction and the longer-term upward trend is set to
continue.  The Asian economies are recovering from the currency crises, and
financial vulnerability has substantially reduced.  The recovery is expected
to broaden at a later stage to the benefit of the domestic demand-driven
sectors.  Longer-term growth prospects are expected to be driven by
outsourcing of electronics manufacturing, further privatisation of government
enterprises and a recovery of domestic demand.  Additionally, a soft landing
for the US economy is achievable and the US should therefore continue to drive
demand for exports from the Asian region.

Against the current deterioration in sentiment in global equity markets,
interesting growth opportunities continue to emerge in the region.


Annual General Meeting

As Special Business of the Annual General Meeting two resolutions will be
proposed as Special Resolutions.  First, your Directors are seeking renewal of
the authority to issue new ordinary shares of the Company.  This will allow
the Directors flexibility to issue new shares within prescribed limits in a
shorter period than would otherwise be the case.  The powers authorised will
not be exercised at an issue price below net asset value per share so that the
interests of existing shareholders are not diluted.  Second, your Directors
wish to renew the authority to buy-back up to 14.9% of the Company's issued
ordinary shares.  Acquisitions under this authority will be subject to the
restrictions referred to in the Notice of Annual General Meeting and will only
be made at market prices below the prevailing net asset value.

I look forward to meeting you at the Annual General Meeting when there will be
a presentation by Alfred Ho, the investment manager, who will speak about the
Company's performance and prospects, followed by an opportunity to meet
informally over refreshments after the meeting'.

The accounts for the year ended 30 April 2000 will show the following results.

Statement of Total Return (incorporating the Revenue Account)

                          2000                     1999
               Revenue  Capital  Total   Revenue Capital  Total
                £'000    £'000   £'000    £'000   £'000   £'000

Gains on          -     16,181  16,181      -    11,675  11,675
investments

Income          1,390      -     1,390    2,187      -    2,187

Investment       (177)    (532)   (709)    (119)   (357)   (476)
Management
fee

Losses
on foreign
currency
revaluation       -        (86)    (86)      -      (49)    (49)

Other expenses   (461)     (22)   (483)    (265)    (27)   (292)

Net return
before finance
costs and       -----   ------  ------    -----  ------    ----
taxation          752   15,541  16,293    1,803  11,242  13,045

Interest
payable and
similar
charges           (76)    (228)   (304)      -       -      - 

Return on
ordinary
activities      -----   ------  ------    -----  ------    ----
before tax        676   15,313  15,989    1,803  11,242  13,045

Tax on
ordinary
activities       (284)     204     (80)    (578)    248    (330)

Return on
ordinary
activities
after tax for
the financial   -----   ------  ------    -----  ------  ------
year              392   15,517  15,909    1,225  11,490  12,715

Dividends
in respect of
equity shares    (695)     -      (695)  (1,057)     -   (1,057)
                -----    -----   -----    -----  ------  ------
Transfer
(from)to
reserves         (303)  15,517  15,214      168  11,490  11,658
                  ===   ======  ======      ===  ======  ======

Return per
ordinary share
basic            0.35p   13.82p  14.17p    1.09p  10.21p  11.30p


Summary Balance Sheet

                                             2000      1999
                                            £'000     £'000
Fixed assets
Investments                                92,616    79,540

Net Current Assets                          4,438     2,371

                                           ------    ------
Total assets less current liabilities      97,054    81,911
                                           ------    ------
Net Asset Value
per Ordinary Share
  Basic                                    87.47p    72.84p
  Fully-diluted (AITC Basis)               89.55p    77.31p

Abridged Cash Flow Statement

                                           2000       1999
                                          £'000      £'000

Cash flow from operating activities         229      1,050
Servicing
of finance                                 (299)        -  
Taxation                                    338         25
Capital expenditure and
financial investment                        420     (2,530)
Equity dividends paid                    (1,057)      (922)
                                          -----      -----
Cash (outflow) before
management of liquid resources
and financing                              (369)    (2,377)
Management of Liquid Resources            1,372      3,929

Financing                                 2,989         -
                                          -----      -----
Increase in cash                          3,992      1,552
                                          -----      -----

Reconciliation of operating profit to net cash inflow from operating
activities



                                           2000       1999
                                          £'000      £'000

Net return before finance costs
and taxation                                752      1,803
Decrease in debtors                         117        127
Increase (decrease) in creditors             90        (63)
Income tax deducted from unfranked          (95)      (326)
investment income
Overseas tax deducted from unfranked        (81)      (107)
investment income
Management fee allocated to                (532)      (357)
capital reserve  - realised
Other expenses allocated to
capital reserve - realised                  (22)       (27)
                                          -----      -----
Net cash inflow from operating activities   229      1,050
                                          -----      -----

The financial information set out above does not constitute the Company's 
statutory accounts for the years ended 30 April 2000 or  1999.  The financial
information for 1999 is derived from the statutory  accounts  for 1999 which
have been  delivered  to  the Registrar of Companies.  The auditors have
reported on  the  1999 statutory accounts and their report was unqualified and
 did  not contain  a statement under section 237(2) or (3) of the Companies
Act  1985.  The statutory accounts for 2000 will be finalised  on the  basis
of the information presented by the directors in  this preliminary 
announcement and will be delivered to the  Registrar of Companies following
the Company's Annual General Meeting.

Notes

                                                  2000      1999
                                                 £'000     £'000

1.  Gains on investments

    Realised profits/(losses) on sales           8,886   (13,395)
    Increase in unrealised                       7,295    25,070
    appreciation
                                                ------    ------
    Gains on investments                        16,181    11,675
                                                ------    ------


2.  Income                                        2000      1999
    Income from investments                      £'000     £'000

    UK dividend income                              -         19
    Overseas dividends                           1,278     1,305
    Overseas fixed interest income                   6       114

    UK unfranked investment income                   -       495
                                                 -----     -----
                                                 1,284     1,933

    Other income
    UK Bank Interest                               106       254
                                                 -----     -----
    Total income                                 1,390     2,187
                                                 -----     -----

3.  Investment Management Fee

                       2000                        1999
             Revenue  Capital   Total    Revenue  Capital   Total
              £'000    £'000    £'000     £'000    £'000    £'000

Investment
management fee  177      532      709       119      357      476
                ---      ---      ---       ---      ---      ---


4.  Other expenses                     2000                 1999
                            Revenue   Capital   Total     Revenue
                             £'000     £'000    £'000      £'000

  General expenses            371       -        371         179
  Aggregate directors'         68       -         68          68
  Emoluments
  Auditors' remuneration 
  - for audit services         17       -         17          17
  - for other services          5       -          5           1
  Transaction dealing charge   -        22        22          27
                              ---       --       ---         ---
                              461       22       483         292
                              ---       --       ---         ---


5. Interest payable and
   similar charges
                                   2000                 1999
                         Revenue Capital Total Revenue Capital Total
                          £'000   £'000  £'000  £'000   £'000  £'000

   Overdraft Interest         9     27      36    -     -        -
   Term Loan Repayable       67    201     268    -     -        -
   within 1 year,not
   by instalment
                            ---    ---     ---   ---   ---     ---
                             76    228     304    -     -       -


6. Tax on net revenue from ordinary activities

                                   2000                 1999
                       Revenue   Capital Total Revenue Capital Total
                        £'000     £'000  £'000  £'000   £'000  £'000

  United Kingdom          -         -      -     414       -     414
  Taxation: Corporation
  Tax 30%
  (1999: 31%)
  Writeback of ACT 
  previously written off  -         -      -      -      (138)  (138)
  Overprovision for tax   -         -      -     (27)      -     (27)
  previous years
  Tax Relief attributable
  to management fee, and
  interest, allocated to
  capital reserve-
  realised               204      (204)    -     110     (110)    -
  Relief for Overseas     -         -      -     (29)      -     (29)
  Tax Credit              -         -      -       2       -       2
  Overseas tax            80        -      80    108       -     108
                         ---       ---    ---    ---      ---    ---
                         284      (204)    80    578     (248)   330
                         ---       ---    ---    ---      ---    ---



7.  Dividends                                      2000       1999
                                                  £'000      £'000
    Dividend on equity shares
    Ordinary
    - proposed dividend of 0.65p(net)per share      695        731
      (1999: 0.65p)
    - proposed special dividend of nil (net)         -         326
      per share (1999: 0.29p)                     -----      -----
                                                    695      1,057
                                                  -----      -----

    The proposed final dividend will be payable on 21 July 2000 to
    shareholders on the register on 23 June 2000.

8.   Return and net asset value per ordinary share

   Basic  revenue return per ordinary share is based  on  the  net revenue
   return  on   ordinary  activities  after  taxation   and   on  112,289,389
   (1999:  112,461,992)  ordinary  shares being the weighted average number of
   ordinary shares in issue throughout the year.
   
   Basic capital return per ordinary share is based on net capital
   return on ordinary activities after taxation and on 112,289,389
   (1999: 112,461,992) ordinary shares, being the weighted average
   number of ordinary shares in issue throughout the year.
   
   Following the adoption of FRS 14 'Earnings per Share', as the
   ordinary share price  remained under  the  warrant exercise price,
   the warrants are not dilutive and therefore no diluted or fully-
   diluted  return per ordinary share has been calculated.
   
   Basic  net asset value per ordinary share is calculated on  net
   assets  of  £97,054,000  (1998:  £81,911,000)  and  110,961,992
   (1999:  112,461,992)  ordinary shares in issue at the year end.
   Fully-diluted net  asset  value  per  ordinary  share  has  been
   calculated assuming  that the 22,157,917 remaining warrants are
   exercised at £1 each.