Management Agreement

Legg Mason Investrs AIM DistTst PLC
06 February 2003



LEGG MASON INVESTORS AIM DISTRIBUTION TRUST PLC (the 'Company')

Investment Manager


The Board of the Company announces that it has today served protective notice of
termination of the Management Agreement between Legg Mason Investors AIM
Distribution Trust plc, AIM VCT Managers Limited (formerly Johnson Fry AIM VCT
Managers Limited) and Legg Mason Investments Limited (formerly Johnson Fry
Holdings PLC).

Legg Mason Investments Limited has advised the Board that it is closing its
Glasgow office and consolidating its asset management activities in London. The
Board has taken this step in view of the uncertainty which has arisen concerning
the management of the Trust, which is currently managed by the Glasgow office of
Legg Mason Investments Limited, in order to protect the interests of the
shareholders in the Company.

A further announcement about the management of the Company will be made in due 
course.


Enquiries


Sir Aubrey Brocklebank, Telephone : [phone]

Date : 6 February 2003


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