Proposed Share Split

Monks Investment Trust PLC
22 June 2001

                        The Monks Investment Trust PLC

                             Proposed Share Split

The Board of The Monks Investment Trust PLC announces that it has today
despatched to shareholders the Annual Report & Accounts for the year ended 30
April 2001.

The Annual Report and Accounts contain details of the Company's proposed five
for one share split, which will reduce the nominal value of each ordinary
share in issue from 25p to 5p. Existing shareholders will receive five new
ordinary 5p shares for every ordinary 25p share held prior to the record date.

The share split has been proposed in order to enable small investors, who
invest through the monthly savings scheme, to invest as much of their monthly
payments as possible. Due to the share price having regularly been in excess
of £10 over the last two years, monthly investors often find that a
considerable proportion of their monthly payments remain uninvested. The Board
has therefore decided that it would be in the interests of small investors to
reduce the nominal value of the ordinary shares.

Shareholders will be given the opportunity to consider, and if thought fit,
approve the Special Resolution required to effect this capital re-organisation
at the Annual General Meeting of the Company to be held on Tuesday 24 July
2001.

The expected timetable for the share split is as follows:
Tuesday 24 July      Annual General Meeting / Record Date
Wednesday 25 July    Commencement of dealing in new ordinary 5p shares
Tuesday 31 July      New share certificates despatched



For further details please contact:
Richard Burns, Fund Manager                            0131 222 4000
The Monks Investment Trust PLC
Mark Bloomfield                                        020 7547 6845
Deutsche Bank AG London