Trading Update Period Ended 31 December 1999

Liontrust Asset Management PLC
20 January 2000


      Operating profits from performance related fees
     receivable for the period ended 31 December 1999
                    exceed £1.7 million


                      Trading update

Following  a statement made by Liontrust Asset  Management
PLC  ('Liontrust') in December 1999 regarding  performance
fees  it  can earn on its pension fund accounts, Liontrust
announces  that  performance fees due and  collectable  in
respect  of  the December accounts are approximately  £1.2
million  (net of compensation costs using the compensation
formula set out in the company's Prospectus issued on  its
flotation in July 1999, but before taxation).  This is  in
addition to the fee due and collectable in respect of  the
November  account  of  £0.5 million (net  of  compensation
costs   as  above,  but  before  taxation)  announced   in
December.

Pension fund accounts currently represent around forty per
cent.  of  total  funds under management  which  stood  at
£1.066  billion on 31 December 1999.  The terms  on  which
performance fees are calculated and earned vary  for  each
contract  and  are confidential.  However, in  some  cases
payment  of  a  proportion of the fee earned  is  deferred
until the next performance fee is payable.

A  further  £1.4  million  of  performance  fees  (net  of
compensation  costs  as above, but before  taxation)  will
become  due  for payment on these accounts if and  when  a
further performance fee becomes payable in the future.

In  addition  to  the information relating to  performance
fees  above,  the Board of Liontrust believes that  profit
before tax for the year ending 31 March 2000 will, subject
to  the  overall level of the UK stockmarket not  reducing
substantially,   be   in   excess   of   current    market
expectations.   This is a result of new business  and  the
increase  in funds under management, the latter reflecting
the  overall  increase in the level of the UK  stockmarket
and out-performance by Liontrust funds.


Note for Editors

Liontrust Asset Management PLC is the holding company of a
specialist  UK  equities fund management  group  providing
process driven portfolio management services to a range of
funds   which   are  targeted  primarily  at  professional
investors and advisers.  Liontrust currently manages  over
£1 billion in segregated and pooled pension fund accounts,
own  branded  unit trusts, an investment  trust,  offshore
funds, personal equity plans and externally managed  funds
on behalf of over 10,000 investors.


For further information please contact:

Liontrust Asset             Nigel Legge       020 7412 1700
Management PLC                                             

Merlin Financial            Paul Downes       020 7606 1244