Final Results

Martin Currie Portfolio Inv Tst PLC
12 March 2001



To: Stock Exchange
    City editors              For immediate release

                                 13 March 2001





     Strong performance from Martin Currie Portfolio Investment Trust plc

                            Second annual results



*        Share price up 12.8%

*        Net asset value per share up 5.3%, compared with a rise of 1.8% for
         the benchmark

*        Dividend increased by 3.5%



The board of the £316 million Martin Currie Portfolio Investment Trust, aimed
at the private investor, has today announced the company's results for the 12
months to 31 January 2001. The net asset value per share has risen by 5.3%.
This compares with a rise of 1.8 % in the trust's benchmark, the FTSE
All-Share Index. The discount at which the shares trade has narrowed from
18.6% at the start of the year to 12.7% at the end. The share price rose by
12.8% in the year.



The board has declared a final dividend of 0.97p, giving a total of 1.47p for
the year, an increase of 3.5% on last year's. Earnings per share were 1.67p,
slightly up on last year.



Peter Berry, the chairman of Martin Currie Portfolio Investment Trust, said: '
I am pleased that the managers have performed well for our investors and that
the discount has narrowed sharply. We are supporting the managers'
achievements with marketing initiatives. These include a dedicated website and
branded advertising, designed to capitalise on the second wave of the AITC its
campaign.'



The manager, Tom Walker, said: 'In the environment of short term uncertainty,
your managers have positioned the trust to  benefit from lower interest rates
and subsequent recovery.  History tells us that share prices will lead the
way.'



After 20 years' service to Scottish Eastern and then Martin Currie Portfolio
Investment Trusts, Norman Lessels will retire from the board at the AGM this
year. Ben Thomson, of Noble and Co, has been appointed as a director.



                                   - ends -



For further information, please contact:



Tom Walker
Martin Currie Investment Management Ltd     0131 229 5252
[e-mail]



Fiona Harris
Quill Communications      0207 618 8905
[e-mail]









                 MARTIN CURRIE PORTFOLIO INVESTMENT TRUST plc



Statement of total return (incorporating the revenue account)
for the year ended 31 January 2001




                                                                      2001
                                                                  (unaudited)
                                                         Revenue Capital  Total

                                                           £'000   £'000  £'000
Net gains on investments     - realised                        -   9,557  9,557
                             - unrealised                      -  10,850 10,850
Net currency losses                                            -    (184)  (184)
Income                -     franked                        5,917       -  5,917
                      -     unfranked                      1,964       -  1,964
Investment management fee                                   (741) (1,482)(2,223)
Performance bonus                                              -    (906)  (906)
Other expenses                                              (860)    (46)  (906)

Net return before finance costs and taxation               6,280  17,789 24,069
Interest payable and similar charges                        (778) (1,556)(2,334)

Return on ordinary activities before taxation              5,502  16,233 21,735
Taxation on ordinary activities                             (275)    168  (107)

Return on ordinary activities after taxation for the       5,227  16,401 21,628
financial year

Dividends in respect of equity shares: 1.47p per share    (4,570)      - (4,570)

Transfer to reserves                                         657  16,401 17,058
Return per ordinary share                                  1.67p   5.24p  6.91p



Subject to approval at the forthcoming Annual General Meeting, the directors
have declared a final dividend on the ordinary shares of the company for the
year ending 31 January 2001 of 0.97p per share to be paid on 29 May 2001 to
shareholders on the register on 30 March 2001.  The annual results will be
circulated to shareholders in the form of an annual report, copies of which
will be available at the company's registered office, Saltire Court, 20 Castle
Terrace, Edinburgh EH1 2ES.




                 MARTIN CURRIE PORTFOLIO INVESTMENT TRUST plc



Statement of total return (incorporating the revenue account)
for the period ended 31 January 2000




                                                                 2000 (audited)
                                                         Revenue Capital  Total

                                                           £'000   £'000  £'000
Net gains on investments     - realised                        -   1,294  1,294
                             - unrealised                      -  27,925 27,925
Net currency losses                                            -  (1,258)(1,258)
Income                -     franked                        5,469       -  5,469
                      -     unfranked                      1,618       -  1,618
Investment management fee                                   (573) (1,145)(1,718)
Performance bonus                                              -    (708)  (708)
Other expenses                                              (682)      -   (682)

Net return before finance costs and taxation               5,832  26,108 31,940
Interest payable and similar charges                        (263)   (527)  (790)

Return on ordinary activities before taxation              5,569  25,581 31,150
Taxation on ordinary activities                             (237)    118   (119)

Return on ordinary activities after taxation for the       5,332  25,699 31,031
financial period

Dividends in respect of equity shares: 1.42p per share    (4,524)      - (4,524)

Transfer to reserves                                         808  25,699 26,507
Return per ordinary share                                  1.66p   8.02p  9.68p








                 MARTIN CURRIE PORTFOLIO INVESTMENT TRUST PLC



Balance sheet

                             as at 31 January 2001




                                     As at 31 January 2001    As at 31 January
                                          (unaudited)
                                                               2000 (audited)

Investments at market value                £000          £000     £000     £000


Listed on The Stock Exchange in                       302,791           259,176
the UK
Listed on stock exchanges abroad                       92,103           101,715
                                                      _______           _______
                                                      394,894           360,891
Current assets:
Debtors                                   4,966                 15,965
Cash in bank and on deposit              18,687                 13,273
                                        _______                _______
                                         23,653                 29,238
Creditors:
Amounts falling due within one          (31,227)               (20,861)
year
                                        _______                _______
Net current (liabilities)/ assets                      (7,574)            8,377

                                                      _______           _______
Total assets less current                             387,320           369,268
liabilities


Creditors:
Amounts falling due after one                         (25,551)          (20,000)
year
                                                      _______           _______
Total assets                                          361,769           349,268

                                                      _______           _______

Capital and reserves

Called-up ordinary capital                             15,629            15,881
Share premium                                         159,208           159,208
Capital redemption reserve                                388               136
Special distributable reserve                         142,979           147,536
Capital reserve                                        42,100            25,699
Revenue reserve                                         1,465               808
                                                      _______           _______
                                                      361,769           349,268
                                                      _______           _______
Net asset value per ordinary                          115.74p           109.96p
share
                                                      _______           _______



MARTIN CURRIE PORTFOLIO INVESTMENT TRUST plc



                            STATEMENT OF CASH FLOW

                         YEAR ENDED 31 JANUARY 2001


                                                  Year ended   Period ended 31
                                                      31        January 2000
                                                 January 2001     
                                                 (unaudited)      (audited)


                                                  £000  £000    £000       £000
Operating activities
Net dividends and interest received from          6,934          5,377
investments
Underwriting commission received                     24             27
Interest received from deposits                   1,146            514
Investment management fee                        (3,466)        (1,296)
Cash paid to and on behalf of directors            (138)           (51)
Bank charges                                        (46)           (30)
Other cash payments                                (662)          (448)
                                                 _______        _______
Net cash inflow from operating activities                3,792            4,093



Servicing of finance

Interest paid                                    (2,266)          (388)
                                                 _______        _______
Net cash outflow from servicing of finance              (2,266)            (388)

Capital expenditure and financial investment
Payments to acquire investments                (175,627)      (167,765)

Receipts from disposal of investments           172,943        129,482
Exchange differences                                (43)          (573)
                                                 _______       ________
Net cash outflow from capital expenditure and
financial investment                                    (2,727)         (38,856)

Equity dividends paid                                   (4,460)          (1,602)
Net cash outflow before use of liquid resources
and financing                                           (5,661)         (36,753)


Financing

Net cash acquired with Scottish Eastern               -         24,180
Investment Trust scheme of reconstruction

Repurchase of ordinary share capital             (5,638)        (1,385)
Movement in short-term borrowings                12,943          6,001
Movement in long-term borrowings                  5,000         20,000

                                                 ______         ______
Net cash inflow from financing                          12,305           48,796
                                                        _______         _______

Increase in cash for the year                           6,644            12,043
                                                        _______         _______