Future Change of Fund Manager

Bankers Investment Trust PLC 17 May 2002 Henderson Global Investors 17 May 2002 The Bankers Investment Trust PLC Future Change of Fund Manager Michael Moule, the investment manager of The Bankers Investment Trust PLC has informed the Board that from 30 June 2003 he wishes to retire from Henderson Global Investors. Following Michael Moule's retirement next year, the overall investment responsibility of the Company will transfer to the deputy manager, Alex Crooke. Michael Moule will remain on the Board. The Bankers Investment Trust PLC is a £450m global growth investment trust. Michael Moule has managed the investments for 25 years. He has been a director since 1982. The Company has assets invested throughout the world, managed by a team of four fund managers, under the guidance of Michael Moule. Alex Crooke is the deputy manager and currently manages the UK equities held by Bankers. He joined Henderson Global Investors in 1994, initially working on the Witan Investment Trust plc, the largest of Henderson's investment trusts. Previously he spent four years working as an investment analyst. He is currently the manager of Henderson High Income Trust plc (since 1996) and Henderson Geared Income & Growth Trust plc (since 1999). The Chairman Andrew Barker said 'Michael has a very impressive investment record and he is highly respected in the investment trust sector. He has given The Bankers Investment Trust PLC great service and I am delighted he will have a role in the future'. Commenting on the development, Michael Moule said, 'I have been very fortunate to have been at the helm of Bankers for the past 25 years. With the long-term support of the Board, Henderson, and our advisors it is gratifying that Bankers has retained its independence and character within the premier league of international trusts. I continue to believe that as a long-term collective savings vehicle conventional, undated international trusts are unsurpassed. There have naturally been periods of poor performance and discount volatility but over the past quarter century the Bankers share price, net asset value and dividends have compounded at 14.1%,12.7% and 10.3% per annum respectively. Dedicated and experienced investment trust managers are difficult to find, but the new crop that Henderson has managed to train and retain is of an exceptional vintage. I wouldn't be happy to retire from my life's work if I didn't have the utmost confidence in Alex Crooke, the team of specialist geographical managers, and the collective skills residing in the UK investment trust team. Alex Crooke is ideally placed to maintain the investment style and consistent performance of Bankers and I look forward to handing over the reins to him next year. I am delighted to have been invited to continue to serve shareholders as a non- executive director'. - ENDS - For further information, please contact : Michael Moule Fund Manager The Bankers Investment Trust PLC Tel: 020 7818 4378 Alex Crooke Deputy Fund Manager The Bankers Investment Trust PLC Tel: 020 7818 4447 Vicki Staveacre Henderson Corporate Affairs Tel: 020 7818 4222 This information is provided by RNS The company news service from the London Stock Exchange
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