Result of AGM

Monks Investment Trust PLC
24 July 2001


                        The Monks Investment Trust PLC

                     Annual General Meeting, 24 July 2001



At the Annual General Meeting of shareholders held today, all resolutions were
passed, including those detailed below.

Ordinary Resolution

Sub-division of shares


  * Shareholders approved the ordinary resolution to sub-divide the
    Company's existing ordinary shares of 25p each into five ordinary shares
    of 5p each.


        Subject to the above, applications were made to the UK Listing
        Authority for admission of 305,130,295 ordinary shares of 5p each to
        the Official List, and to the London Stock Exchange for the trading of
        those shares on the market for listed securities. Confirmation has
        subsequently been received that the aforementioned applications have
        been approved and that dealing in the new ordinary shares will
        commence on Wednesday 25 July 2001.




Special Resolution

Renewal of share buy-back authority


  * Shareholders authorised the Company to renew its share buy back
    authority.


        Shareholders approved a special resolution renewing the Company's
        authority to make market purchases of up to 14.99 per cent of the
        Company's issued share capital, being 45,739,031 ordinary shares of
        5p.

        Such authority will expire at the conclusion of the AGM to be held in
        2002 or 23 January 2003, whichever is earlier, unless previously
        varied, revoked or renewed. Future purchases of shares will only be
        made at prices, which after allowing for costs, will enhance the net
        asset value of the Company.



                                                         Baillie Gifford & Co.

                                                           Company Secretaries