Fthr re Secondary Placing

Liontrust Asset Management PLC
1 March 2001


 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO
        THE UNITED STATES OF AMERICA, CANADA, THE REPUBLIC OF IRELAND,

               THE REPUBLIC OF SOUTH AFRICA, AUSTRALIA OR JAPAN

        Liontrust Asset Management PLC ('Liontrust' or 'the Company')

       Secondary Placing by HSBC on behalf of the Selling Shareholders


HSBC has today completed the placing of 8,127,427 shares in Liontrust ('the
Placing Shares') with institutional investors, at a price of 330 pence per
share. The shares were sold by Pacific Investments PLC's ('Pacific')
subsidiary, River & Mercantile Investment Management Limited, and Mark Johnson
(a non-executive director of Liontrust and Managing Director of Pacific),
together with persons connected to him and John Beckwith (Chairman of Pacific)
(together, the 'Selling Shareholders'). As a result of the placing, the
Selling Shareholders currently own or control an aggregate of 4,939,118
ordinary shares in Liontrust (representing approximately 15.0 per cent. of
Liontrust).


HSBC has elected not to exercise its option over 164,637 Ordinary Shares ('the
Option Shares') at the present time.


The Selling Shareholders have been required to undertake not to dispose of
3,292,746 Liontrust ordinary shares held by them following the Placing until
after the announcement of Liontrust's interim results for the six months
ending 30 September 2001, and not to dispose of any other Liontrust ordinary
shares held by them following the Placing until after the announcement of
Liontrust's results for the year ending 31 March 2002.




Enquiries:


Liontrust Asset Management PLC               Tel:     [phone]

Nigel Legge - Joint Chief Executive


HSBC Investment Bank plc                     Tel:     [phone]

John Mellett

Tom Durie


General

This announcement, for which the directors of Pacific Investments PLC are
solely responsible, has been approved solely for the purposes of section 57 of
the Financial Services Act 1986 by HSBC Investment Bank plc, which is
regulated in the United Kingdom by The Securities and Futures Authority
Limited. HSBC Investment Bank plc is acting solely as agent for Pacific
Investments PLC and the Selling Shareholders and no-one else in connection
with the Placing and will not be responsible to any other person for providing
the protections afforded to customers of HSBC Investment Bank plc or for
providing advice in relation to the Placing.


This announcement has been prepared solely to provide information about the
Placing and it does not constitute, or form part of, any offer or invitation
to purchase Placing Shares or Option Shares, or the solicitation of any such
offer.


The Placing Shares have not been and will not be registered under the
applicable federal or state securities laws of the United States, Canada,
Australia, Japan, or other jurisdictions outside of the United Kingdom. The
Placing Shares may not be offered or sold within the United States, Canada,
Australia, Japan, The Republic of Ireland or The Republic of South Africa.
Neither this announcement nor any copy of it may be given, sent or taken into
the United States of America, Australia, Canada, Japan, The Republic of
Ireland or The Republic of South Africa, nor given or distributed to any US
Person (within the meaning of Regulation S under the US Securities Act of
1933, as amended).


None of HSBC, Pacific, the Selling Shareholders, the Company, nor any of their
respective affiliates or representatives is making any representation to any
potential investor regarding the legality of an investment in the Placing
Shares or Option Shares by such person under any applicable laws. Each
potential investor should consult with his own advisers as to the legal, tax,
business, financial and related aspects of any proposed purchase of Placing
Shares or Option Shares.