Additional Listing

Personal Assets Trust PLC
21 December 2001


Personal Assets Trust plc

To:      Company Announcements Office

Date:    21 December 2001


Allotment of Shares

The Company announces that on 18 December 2001 it allotted and issued 16,384
new ordinary shares of £12.50 each under an issue for cash at a price of £
203.00 per share.


The new shares increase the issued share capital on 18 December 2001 to
428,111 ordinary shares.


An application for admission to listing has been made today in respect of the
16,384 new ordinary shares.


For further information please contact:


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