Investment policy

The Board of Jupiter Second Enhanced Income Trust PLC (the "Company") believes that it is in the best interests of
Shareholders for the Investment Manager to be able to invest on the Company's behalf in certain property related
investment companies which are listed or to be listed on the London Stock Exchange.

In accordance with the Investment Entities (Listing Rules and Conduct of Business) Instrument 2003, the Board announces
that it is now the Company's policy to invest no more than 15% of its gross assets in other listed investment companies
(including listed investment trusts) as defined in chapter 21 of the Listing Rules.

A monthly fact sheet for the Company is available on request from the Company Secretaries and from
www.jupiteronline.co.uk.

By order of the Board

Jupiter Asset Management Limited, Company Secretaries

Enquiries:

Richard Pavry
Jupiter Asset Management Limited
[e-mail]
020 7412 0703