Final Results

Foreign & Colonial Eurotrust PLC
13 November 2000





Date:      13 November 2000

Contact:   Stephen White

           Foreign & Colonial Management      020 7628 8000

           Louise Dolan

           Financial Dynamics                 020 7831 3113




                       FOREIGN & COLONIAL EUROTRUST PLC

  Unaudited Preliminary Statement of Results for the year ended 30 September
                                     2000



Highlights

  * Net asset value outperformance: Net asset value per share rose by 33.2%
    compared with a rise of 18.7% in the FT/S&P AWI-Europe Index, excluding
    the UK, and adjusted to sterling.
  * Ordinary dividend: The Board has recommended an unchanged dividend of
    1.70p.
  * During the year the Company has reduced its exposure to the telecoms
    sector, remained overweight in the oil sector and added to the
    pharmaceuticals and food and drink companies.
  * Outlook: Economic activity in Europe should continue to be supported by
    a high level of consumer confidence, some loosening in fiscal policy and
    the low level of the euro.


    Corporate earnings should show further growth, albeit at a slower rate.
    The markets should respond positively to these factors.

  * Board change: Mr Jean Bonna decides to stand down after 16 years on the
    Board. His place is taken by Mr Philippe Sarasin who is a managing partner
    of Lombard Odier & Cie. and is responsible for their investment management
    activities.



SUMMARY OF RESULTS
                                               30 Sept       30 Sept          %
                                                  2000          1999     Change
Attributable to equity shareholders
Net assets                                    £519.60m      £390.02m      +33.2
Net asset value per share                      690.54p       518.32p      +33.2
Earnings per share                               1.02p         2.07p      -50.7

Annual dividend per share                        1.70p         1.70p         --

Share price                                     653.5p        495.0p      +32.0


                       FOREIGN & COLONIAL EUROTRUST PLC

  Unaudited Preliminary Statement of Results for the year ended 30 September
                                     2000



Balance Sheet
                                                       at 30 Sept    at 30 Sept
                                                             2000          1999
                                                           £'000s        £'000s
Investments
Listed in United Kingdom                                   21,489        13,620
Listed outside United Kingdom                             540,475       417,354
                                                          561,964       430,974
Unlisted at directors' valuation                               12            13
                                                          561,976       430,987
Current assets
Debtors                                                     4,433        13,860
Taxation recoverable                                        1,080         1,308
Cash at bank and short-term deposits                        1,024         7,305
                                                            6,537        22,473
Current liabilities
Creditors: amounts falling due within one year
Foreign currency loans                                   (44,370)      (48,538)
Other                                                     (4,539)      (14,906)
                                                         (48,909)      (63,444)
Net current liabilities                                  (42,372)      (40,971)
Net assets                                                519,604       390,016
Capital and reserves
Called up equity share capital                             18,811        18,811
Share premium                                             123,749       123,749
Capital reserves                                          374,750       244,648
Revenue reserve                                             2,294         2,808
Total equity shareholders' funds                          519,604       390,016
Net asset value per ordinary share - pence                 690.54        518.32



Geographical distribution of total assets less current liabilities at 30
September 2000 was: France - 28.5%; Germany - 14.6%; Netherlands - 12.1%;
Italy - 7.5%; Switzerland - 7.5%; Other - 29.8%.



                       FOREIGN & COLONIAL EUROTRUST PLC

  Unaudited Preliminary Statement of Results for the year ended 30 September
                                     2000



Statement of Total Return (incorporating the revenue account*)


                                          - 2000  -              -1999-
                                                                (restated  **)
                                  Revenue Capital Total Revenue   Capital Total
                                  £'000s  £'000s £'000s £'000s   £'000s  £'000s
  
 Gains on investments              -   127,580  127,580    -    81,418 81,418
   
    Exchange gains and losses on   
    currency balances             (56)   2,539    2,483   (59)   1,476  1,417

    Income                        8,141     -     8,141   7,271     -   7,271
  
    Management fee               (4,483)     -    (4,483) (3,691)    - (3,691)
  

    Other expenses                (956)    (17)     (973)   (626)  (15)  (641)
    
    Net return before finance    2,646 130,102   132,748  2,895  82,879 85,774
    costs and taxation

    Interest payable and 
     similar charges            (1,526)    -      (1,526) (1,057)   -  (1,057)
   

    Return on ordinary          1,120  130,102   131,222  1,838  82,879 84,717
    activities before taxation


    Taxation on ordinary        (355)     -       (355)    (280)     -   (280)
    activities


    Return attributable to      765  130,102  130,867   1,558   82,879  84,437
    equity shareholders


    Amount transferred (from)/ (514) 130,102  129,588     279    82,879 83,158
    to reserves


    Return per ordinary share - 1.02  172.90   173.92    2.07    110.14 112.21
    pence


*The revenue column of this statement is the profit and loss account of the
Company.

** The revenue results for the year ended 30 September 1999 have been restated
in accordance with Financial Reporting Standard 16 (FRS 16) 'Current
Taxation'. The effect of this change in accounting policy is to decrease
Revenue Return on Ordinary Activities before Taxation by £773,000. However,
there is no effect on Revenue Return on Ordinary Activities after Taxation or
on Equity Shareholders' Funds.



                       FOREIGN & COLONIAL EUROTRUST PLC

 Unaudited Preliminary Statement of Results the year ended 30 September 2000

Cash Flow Statement
                                                                  2000     1999
                                                                £'000s   £'000s
Net cash inflow from operating activities                        2,935    3,030
Net cash outflow from servicing of finance                     (1,503)    (993)
Total tax (paid)/recovered                                       (233)      344
Net cash outflow from financial investment                     (4,572) (16,324)
Equity dividends paid                                          (1,279)    (301)
Net cash outflow before use of liquid resources and financing  (4,652) (14,244)
Management of liquid resources                                   4,456    7,898
Net cash (outflow)/inflow from financing                       (1,401)    8,764
(Decrease)/increase in cash                                    (1,597)    2,418

The Directors propose a final dividend of 1.70p (1999 - 1.70p) per share
payable on 21 December 2000 to shareholders registered on 24 November 2000.

The financial information set out in this announcement does not constitute the
Company's statutory accounts for the years ended 30 September 2000 or 30
September 1999. The financial information for the year ended 30 September 1999
(restated to comply with FRS 16) has been extracted from the statutory
accounts for that year which have been delivered to the Registrar of
Companies. The auditors reported on those accounts: their report was
unqualified and did not contain a statement under either Section 237(2) or
Section 237(3) of the Companies Act 1985. The statutory accounts for the year
ended 30 September 2000 will be finalised on the basis of the financial
information presented by the directors in this preliminary announcement and
will be delivered to the Registrar of Companies following the Company's Annual
General Meeting.

The Audited Report and Accounts will be posted to shareholders on 17 November
2000. Copies

may be obtained during normal business hours from the Company's Registered
Office, Exchange House, Primrose Street, London EC2A 2NY.

The Annual General Meeting will be held at Stationers' Hall, Ave Maria Lane,
London, EC4 on Tuesday 19 December 2000 at 11:30am.

By order of the Board

Foreign & Colonial Management Limited - Secretary

10 November 2000