Net Asset Value(s)

Personal Assets Trust PLC
29 July 2005

NAV's as at close of business on 28/07/05

F & C Asset Management plc Investment Trusts announces the unaudited Net Asset
Values for the following Investment Trusts.

                                                               (Pence per share)



Personal Assets Trust                                                 23,588.73






Note: NAVs are diluted, where appropriate.




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