Issue of Equity

Personal Assets Trust PLC
07 August 2003

To:            RNS

From:          Personal Assets Trust plc

Date:          7 August 2003





Issue of Equity

In response to requests from shareholders, the board of Personal Assets Trust
plc announces the number of shares issued during July 2003 :-

End of month              No of share in      Number of new shares      % of capital       Inflow of new
                                   issue issued during the month *       represented             capital
July 2003                        584,858                     7,502             1.30%          £1,506,926
                                                             7,502                            £1,506,926

* These shares have been issued under the company's various block listings.

There are 584,858 shares in issue as at 31 July 2003. This gives a market
capitalisation of £119.3m, based on a closing mid-price of £204.00.

For further details, please contact :-

Steven Budge, Personal Assets Trust plc               0131 225 9995

Steven Davidson, ISIS Asset Management plc            0131 465 1000






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