Dividend Declaration

Personal Assets Trust PLC
22 April 2004

To:     RNS

From:   Personal Assets Trust plc

Date:   22 April 2004



Dividend Declaration

The Board of Personal Assets Trust plc has today declared a second interim
dividend for the year to 30 April 2004 of £1.60 per share, making a total of
£3.10 for the year. This is a 6.9% increase compared to the previous year. The
dividend will be paid on 28 May 2004 to shareholders on the register on 14 May
2004. The ex-dividend date will be 12 May 2004.

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
2005, expected to be paid in November 2004, will be at least £1.60 per share and
the total dividend for the year will be not less than £3.20, a further increase
of at least 3.2%.



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