Additional Listing

Personal Assets Trust PLC
22 November 2001



Allotment of Shares

The Company announces that on 19 November 2001 it allotted and issued 1,000
new ordinary shares of £12.50 each under an issue for cash at a price of
£210.00 per share.

The new shares increase the issued share capital on 19 November 2001 to
407,740 ordinary shares.

An application for admission to listing has been made today in respect of the
1,000 new ordinary shares.

For further information please contact:

Gordon Hay Smith, Friends Ivory & Sime plc :        0131 465 1000