Issue of Equity

Personal Assets Trust PLC
05 January 2004


To:    RNS

From:  Personal Assets Trust plc

Date:  5 January 2004


Issue of Equity

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


                                                                                                                      
End of month     No of share in issue      Number of new shares   % of capital represented    Inflow of new capital 
                                              issued during the                                                     
                                                       month *                                                      
December                      619,651                    9,432                       1.55%               £1,980,855 
                                                         9,432                                           £1,980,855 

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


There are 619,651 shares in issue as at 31 December 2003. This gives a market
capitalisation of £130.7m, based on a closing mid-price of £211.00.


For further details, please contact :-

Steven Budge, Personal Assets Trust plc               0131 225 9995

Gordon Hay Smith, ISIS Asset Management plc           0131 465 1000



                      This information is provided by RNS
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