Statement re Investments

Gartmore Asia Pacific Trust PLC

(formerly Govett Asian Recovery Trust PLC)

Announcement under UKLA listing rule 21.20(l)

1. As at 31 March 2004, the Company had no investments requiring disclosure in
accordance with UKLA Listing Rule 21.20(l)(i).

2. In accordance with UKLA Listing Rule 21.20(l)(ii), the Company's ten largest
investments as at 31 March 2004, were:

Company                                                  £'000    Percentage of
                                                                   Gross Assets
                                                                               
GOVETT SINGAPORE GROWTH FUND ORD GBP0.01                 2,343              7.9
                                                                               
UFJ HOLDINGS JPY50000                                    1,303              4.4
                                                                               
MITSUBISHI CORPORATION JPY50                             1,208              4.1
                                                                               
MITSUBISHI TOKYO FINANCIAL JPY50000                      1,201              4.1
                                                                               
NOMURA HLDGS JPY50                                       1,070              3.6
                                                                               
FUJI SOFT ABC INC JPY50                                    939              3.2
                                                                               
LEOPALACE 21 JPY50                                         883              3.0
                                                                               
TOYOTA MOTOR CORPORATION JPY50                             848              2.9
                                                                               
TOKYU CORPORATION JPY50                                    841              2.8
                                                                               
DAIWA HOUSE INDUSTRIES JPY50                               840              2.8

At 31 March 2004 the only asset which represented more than 5% of the Company's
gross assets was its investment in Govett Singapore Growth Fund, which
represented 7.9% of gross assets.

Gartmore Investment Limited

5th April 2004