Listing Rule 21

Personal Assets Trust PLC
02 July 2004

To:            RNS

From:          Personal Assets Trust plc

Date:          02 July 2004



Listing Rule 21



In accordance with paragraph 21.20 l (i) of the Listing Rules Personal Assets
Trust plc announces that, as at 30 June 2004, it had investments in the
following investment companies which do not have stated investment policies to
invest no more than 15% of their gross assets in other listed investment
companies:


Holding                                           % of Gross Assets

Advance UK Trust plc                                     0.37%


For further information please contact:

Gordon Hay Smith

ISIS Asset Management plc

0131 465 1000


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