Dividend Declaration

Personal Assets Trust PLC
22 April 2003

To:          RNS

From:        Personal Assets Trust

Date:        22 April 2003



Second Interim Dividend

The Board of Personal Assets Trust plc has today declared a second interim
dividend for the year to 30 April 2003 of £1.50 per share, making a total of
£2.90 for the year. This is a 3.6% increase compared to the previous year. The
dividend will be paid on 23 May 2003 to shareholders on the register on 9 May
2003. The ex-dividend date will be 7 May 2003.

The Board's stated policy is never to cut the dividend rate, so that
shareholders can be confident that each half-yearly payment will at least equal
the previous one. Therefore, the first interim dividend for the year to 30 April
2004, expected to be paid in November 2003, will be at least £1.50 per share and
the total dividend for the year will be not less than £3.00, a further increase
of at least 3.4%.


For further information please contact:


Gordon Hay Smith, ISIS Asset Management plc:     0131 465 1000




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