Statement re Asset Allocation

Witan Investment Trust PLC
14 May 2004


HENDERSON GLOBAL INVESTORS

WITAN INVESTMENT TRUST PLC

14 May 2004


                           WITAN INVESTMENT TRUST PLC

The £1.35 billion Witan Investment Trust plc announces its intention to abolish
its current 60% FTSE All-Share Index and 40% FTSE World (ex UK) Index benchmark
when the Trust adopts its open architecture approach in the autumn of 2004. This
will be replaced by the following strategic asset allocation:


                                             New Strategic Allocation    Average Benchmark Allocation 2003 
                                                                   %                                     % 
            UK Mainstream Equities                                40.0                                 60.0
            UK Smaller Companies Equities                          5.0                                    -
            US Equities                                           10.0                                 25.6
            European Equities                                     10.0                                  7.9
            Japanese Equities                                      5.0                                  3.6
            Pacific (ex Japan) Equities                            5.0                                  2.9
            Global Equities                                       15.0                                    -
            Absolute Return                                       10.0                                    -
            TOTAL                                                100.0                                100.0

This allocation will form the basis for new equity mandates which will be
assigned individually by means of a selection process to be held during June and
July 2004. Absolute return managers will be selected later in the year. Further
announcements will follow.

                                    - ENDS -



For further information please contact:

James Budden

Witan Investment Trust plc

Telephone: [phone]

or

Gordon Puckey

Quill Communications

Telephone: [phone]



                      This information is provided by RNS
            The company news service from the London Stock Exchange                    X