Proposed amendment to Company's Articles of As

To: Stock Exchange

Martin Currie Portfolio Investment Trust plc
Stock Exchange Announcement - 21 October 2003
Proposed amendment to Company's Articles of Association
                                    
The Board of Martin Currie Portfolio Investment Trust ("the Company")
has today announced that it is proposing to amend the Company's Articles
of Association by the inclusion of additional redemption opportunities
exercisable in certain circumstances (the "Proposal").

When the Company was launched, a right to redeem shares was built into
its Articles of Association, exercisable following the Annual General
Meeting in 2004 and every fifth anniversary thereafter.

The Board seeks to ensure that the discount at which the Company's
shares trade to net asset value is at an acceptable level, including
through the use of share buy-backs. The Company will continue to use its
share buy-back programme actively in this regard. The Board believes
that the discount should be maintained, where possible, in single
figures.

As part of this discount management strategy, it is also proposed that,
on an annual basis if the average discount exceeds 7.5 per cent over the
12 week period prior to each financial year end of the Company, then a
further redemption right should become available unless shareholders
vote by special resolution not to have such an opportunity.

The Proposal involves an amendment to Article 47 of the Articles of
Association and the full text of the proposed new Article 47 is set out
in the Appendix to the Circular despatched to shareholders today. This
Circular includes the Notice of an Extraordinary General Meeting of the
Company to be held on 24 November 2003, at which a special resolution
will be proposed to make a change to the Articles of Association to
effect the Proposal.

The Board considers that the resolution proposed at the Extraordinary
General Meeting is in the best interests of shareholders and the Company
as a whole. Accordingly, the Board is unanimously recommending that
shareholders vote in favour of the resolution.

For further information, please contact:

Tom Walker or Michael Woodward
Martin Currie Investment Management Ltd                0131 229 5252
[e-mail]/[e-mail]