Redemption price

Martin Currie Portfolio Investment Trust plc
                    Stock Exchange Announcement - 5 July 2004


The Board of Martin Currie Portfolio Investment Trust plc (the "Company")
announces that the Redemption Price in respect of the 132,688,435 shares in the
Company (representing 44.54 per cent of the 297,963,830 shares in issue as at 30
June 2004) validly tendered for redemption is 81.67p per share. This represents
the net asset value per share of the Company, compiled on the AITC basis,
excluding current period revenue and with debt valued at market, of 82.65p per
share as at 30 June 2004, less costs of £1,300,043 (equivalent to 0.98p per share redeemed). The redemption proceeds
will be despatched to redeeming shareholders on or around 12 July 2004.

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For further information, please contact:

Tom Walker/Mike Woodward                     0131 229 5252

Martin Currie Investment Management Ltd
[e-mail]/[e-mail]