Dividend Declaration

Murray Income Trust PLC
29 October 2003


                            MURRAY INCOME TRUST PLC


The Board of Murray Income Trust PLC declares a first interim dividend of 4.5p
per share in respect of the year ending 30 June 2004 which will be paid on 16
January 2004 to holders of Ordinary Shares on the register on 19 December 2003.

The Board anticipates that the second and third interim dividends for the year
ending 30 June 2004 will be maintained at not less than 4.5p per share each.



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