Portfolio Information

Henderson TR Pacific Inv. Trust PLC
09 June 2006

HENDERSON GLOBAL INVESTORS

HENDERSON TR PACIFIC INVESTMENT TRUST PLC

9 JUNE 2006




                   HENDERSON TR PACIFIC INVESTMENT TRUST PLC

                             Portfolio Information


                Set to maximise gearing during market correction

Andy Beal, portfolio manager of the £259 million Henderson TR Pacific Investment
Trust plc is anticipating moving from his current net cash position to being
fully geared by the end of the summer. The Trust has a borrowing facility in
place to enable gearing of up to 30% of Net Asset Value.

Andy Beal commented: 'I've moved to a net cash position to ensure that I have
the firepower to buy as the correction unfolds. The correction is already
throwing up some buying opportunities, but we are still a further 5-10% away
from a market level where I'd expect to be fully geared; I see this as a
correction in a longer-term bull trend.

One of the advantages that an Investment Trust has over some other types of
investment vehicle is that you can deploy gearing when attractive companies get
caught up in a general market sell off, thus maximising your returns.

We manage the Trust on a bottom-up basis, and we're currently looking to buy
stocks in Asia where the price has 'fallen out of bed' but the fundamental
longer-term story remains intact. Although the overall index (MSCI All Countries
Asia ex-Japan) is down over 10% in sterling terms since its peak, we are finding
some good stocks at good prices. Its possible they may fall again in the
short-term but their long-term prospects remain very strong.'

One example of a recent investment that Andy Beal has made on behalf of the
Trust is Bank Mandiri in Indonesia. As one of the country's leading commercial
banks, Mandiri is expected to enjoy strong loan growth over the next few years.
Coupled with this, changes in government regulations will enable the bank to
dispose of problem loans much more easily than in the past. The bank has lost a
third of it market value in the recent sell off and looks very attractive on a
6-12 month view.

Andy Beal commented further: - 'The summer is likely to be fairly difficult,
with low trading volumes, choppy markets and a bearish newsflow. We are awaiting
indications that US inflation is under control and that economic growth will
have a soft landing. It's likely to be the end of the summer before we get clear
evidence either way. In the meantime, sentiment will be fragile.'

Overall, Andy Beal considers that the world economy needs rebalancing
commenting: 'Effectively, the US economy needs to 'take a breather', and the
rest of the world economy to pick up the slack. The current concern is whether
the rest of the world can keep going if the US economy does have a major
problem.'

Beal also takes the view that Asian markets are looking more reasonably valued.
'Not unexpectedly, the Indian market has been very weak - I've been concerned
about Indian valuations for some time which is why the Trust has been notably
underweight in that market. Whilst the current correction will probably last
longer than first thought, once we get the right signals from the US economy,
markets will rise again.'

Henderson TR Pacific Investment Trust is currently ranked 4th out of 13 trusts
in its sector (Far East exc Japan) in the 6 months to 6 June 2006 in NAV per
share and price terms.  (Source: Cazenove).

                                    - Ends -



Press enquiries

Andrew Beal                           020 7818 4314    [e-mail]
Henderson TR Pacific Investment Trust plc

James de Sausmarez                    020 7818 334     [e-mail]
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