Result of redemption opportunity

Martin Currie Portfolio Investment Trust plc
                   Stock Exchange Announcement - 23 June 2004


The Board of Martin Currie Portfolio Investment Trust plc (the "Company")
announces that valid Notices of Redemption have been received in respect of
132,516,119 shares in the Company, representing 44.42 per cent of the
298,298,830 shares in issue as at 16 June 2004. Notices of Redemption in respect
of which details are incomplete have been received in respect of 172,316 shares
(0.06 per cent). The redemption price will be announced on 5 July 2004.
The Board of the Company confirms that it has no present intention, in the
context of the outcome of the redemption opportunity, of reducing its
shareholding in Martin Currie Capital Return Trust plc.
                                    - ends -

For further information, please contact:

Tom Walker/Mike Woodward                     0131 229 5252

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