Statement re Possible Offer

Liontrust Asset Management PLC
05 November 2004



                  LIONTRUST ASSET MANAGEMENT PLC ('Liontrust')


The Directors of Liontrust have noted the recent rise in Liontrust's share
price.  The Company has received a tentative, management initiated, approach
which may or may not lead to an offer for the whole of the issued share capital
of Liontrust.  It should be emphasised that the approach is very preliminary and
any relevant developments will be announced as and when appropriate.


5 November 2004

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