Funds under management

Liontrust Asset Management PLC
01 April 2005

1st April 2005



                          Stock Exchange Announcement

                         Liontrust Asset Management PLC

                             Fund under Management



Liontrust deals with a number of investment consultants in the institutional
market place. The investment consultants are responsible for advising
institutional clients on a range of matters including manager selection. One of
these investment consultancy firms has advised Liontrust that a change in
emphasis towards absolute return strategies has rendered Liontrust's growth
orientated UK equity products unsuitable for their clients' revised investment
aims. As a consequence eight of our mutual clients, who currently have assets
managed by Liontrust, will be terminating their investment management agreements
with immediate effect. These eight accounts represent GBP 831 million of assets
and around GBP 2 million of revenues before compensation costs and deduction of
other operating expenses. While disappointing, the adverse impact on current
market expectations for next year's revenues and core operating profits is
likely to be less than 10%.


Note to Editors


For further information please contact:



Liontrust Asset Management PLC:        Nigel Legge        020 7412 1700

J P Morgan Cazenove:                   Mike Collar        020 7588 2828







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