Change of Fund Manager

Merrill Lynch UK Inv Tst PLC
16 December 2002

The Board of Merrill Lynch UK Investment Trust plc has appointed Invesco Asset
Management to the role of manager and company secretary, in succession to
Merrill Lynch Investment Managers. The new appointment will take effect from 1
January 2003. The Company will seek shareholder approval to change its name to
Keystone Investment Trust plc, thereby reverting to its traditional name.



Contacts:

Richard Oldfield (Chairman) 020 7838 7123

Graeme Proudfoot (Invesco) 020 7065 3519

Nigel Webb (Merrill Lynch Investment Managers) 020 7743 5938

Ian Barby (Merrill Lynch Investment Managers) 020 7743 5224


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