Dividend Declaration

Personal Assets Trust PLC
18 October 2001


The board of Personal Assets Trust plc has today declared a first interim
dividend for the year ended 30 April 2002 of £1.40 per share.  The dividend
will be paid on 23 November 2001 to shareholders on the register on 9 November
2001.

For further information please contact:

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