Change to Board of Directors

Mercury Keystone Inv Trust PLC
4 September 2000


MERCURY KEYSTONE INVESTMENT TRUST PLC
APPOINTMENT OF ADDITIONAL DIRECTOR

The Board is pleased to announce the appointment of Mr Richard Oldfield as
an additional non-executive director of the Company with effect from 4th
September 2000.

Mr Oldfield is also a director of Alta Advisers Limited, Fleming Smaller
Companies Investment Trust plc, Demelza House Children's Hospice (Charitable
Society) and MCCH Ltd (Charitable Society).

Mr Oldfield had a beneficial interest in 1,780 ordinary shares in the Company
at the time of his appointment.

There are no further details or disclosures required under Paragraphs 6.F.2
(b-g) of the Financial Services Authority Listing Rules.