Interim Management Statement

Embargoed until 0700 hours, Wednesday 23 January 2008

                          Stock Exchange Announcement                          

                        LIONTRUST ASSET MANAGEMENT PLC                         

                         Interim Management Statement                          

Liontrust Asset Management PLC ("Liontrust" or "the Group"), the independent
specialist equities fund management group, is today publishing its Interim
Management Statement as required by the FSA's disclosure and transparency
rules. The statement relates to the period from 1 October 2007 to 31 December
2007 (the "period").

Funds under management

On 31 December 2007 our funds under management stood at £5.020 billion (30
September 2007: £5.457 billion). In the period from 31 December 2007 to 22
January 2008 funds under management fell 13.2% to £4.356 billion, and the FTSE
All-Share Index fell by 13.4%.

Performance

Performance fees of £11.9 million were earned in the period, generating an
operating profit, after compensation, of approximately £5.4 million.

In the financial year to 31 December 2007, performance fees earned stand at £
12.3 million, generating an operating profit, after compensation, of
approximately £5.5 million. Further accounts fall due for calculation of
performance fees in the period to 31 March 2008.

Funds flow

Gross sales of our unit trusts and offshore funds totalled a healthy £156
million over the period; net sales were £52 million in the period.

Net inflows of institutional assets amounting to £75 million are currently in
transition with a net £462 million having been withdrawn in the period. The
amount withdrawn in the period, as previously reported, includes the
termination of a £380 million UK equity Large Cap mandate.

In the financial year to 31 December 2007, net sales of our unit trusts and
offshore funds were £11 million while a net £525 million of institutional
assets were withdrawn.

European Team

£158 million has been raised for the European process with a further £30
million currently in transition. Performance across our range of European funds
since their inception has been strong and we are confident of raising more
money for them over the coming months.

The share price for our European hedge fund is up 28% in the calendar year 2007
and up 30% since launch*. Specific performance statistics on our funds are
widely available from many sources including our website, www.liontrust.co.uk.

Summary

This financial year is progressing well. We have earned healthy performance
fees, net retail fund flows are again positive and the prospects are good for
attracting further inflows. The Group's preliminary results are due to be
announced on 27 May 2008 with the pre-close announcement scheduled for 25 March
2008.

* Liontrust European Long/Short Fund launched on 6 December 2006. Source:
Liontrust International (Guernsey) Limited

For further information please contact:

Liontrust Asset Management PLC 020 7412 1700

Nigel Legge www.liontrust.co.uk

Vinay Abrol

Altium 020 7484 4040

Nick Tulloch

Sam Fuller

Smithfield 020 7360 4900

Reg Hoare

Miranda Good

Other information

The release, publication, transmission or distribution of this announcement in
jurisdictions other than the United Kingdom may be restricted by law and
therefore persons in such jurisdictions into which this announcement is
released, published, transmitted or distributed should inform themselves about
and observe such restrictions. Any failure to comply with the restrictions may
constitute a violation of the securities laws of any such jurisdiction.

This announcement contains certain forward-looking statements with respect to
the financial condition, results of operations and businesses and plans of the
Group. These statements and forecasts involve risk and uncertainty because they
relate to events and depend upon circumstances that have not yet occurred.
There are a number of factors that could cause actual results or developments
to differ materially from those expressed or implied by these forward-looking
statements and forecasts. Nothing in this announcement should be construed as a
profit forecast.