Interim Results

Hansa Trust PLC
29 November 2001


Immediate                                                      29 November 2001


                               HANSA TRUST PLC

                     Announcement of Interim Results for
                      six months ended 30 September 2001



*                Interim dividend of 1.8p


Hansa Trust PLC today announces its interim results for six months ended 30
September 2001.

Financial Highlights

                                                        (Unaudited)   (Audited)
                                                   Six months ended  Year ended
                                                       30 September    31 March
                                                               2001        2001
                                                              £'000       £'000

Investment income                                             2,102       2,706
Return on ordinary activities before taxation                 1,179         950

Net asset value per Ordinary share                           338.6p      413.9p
Net asset value per 'A' Ordinary share                       338.6p      413.9p
Capital return per share                                    (78.4)p     (30.0)p
Revenue return per share                                       4.9p        3.9p
Dividend per Ordinary and 'A' Ordinary share                   1.8p        5.0p



The following are attached:

*         Chairman's Statement

*         Consolidated Statement

*         Consolidated Balance Sheet

*         Consolidated Cash Flow Statement

*         Notes to the interim accounts



For further information please contact:

James Fuller - Haggie Financial Ltd                   020 7417 8989



CHAIRMAN'S STATEMENT

At the EGM held in October the proposal to change the name of the Company from
Finsbury Trust PLC to Hansa Trust PLC was passed unanimously.



PERFORMANCE

During the six months to 30 September 2001, the net asset value per share fell
by 18.2% from 413.90p to 338.6p, compared to a fall of 13.7% for the Company's
benchmark, the FTSE All Share Index.

The comparative figures for the medium and long term are as follows: over one
year the Company's net asset value per share fell by 28% compared to a fall of
22.7%, over three years the Company's net asset value per share rose by 33.7%
compared to a fall of 0.2%, over five years the Company's net asset value per
share rose by 44.3% compared to a rise of 20.3%, and over ten years the
Company's net asset value per share rose by 184.5% compared to a rise of
84.9%.

Following on the uncertain market conditions, the discount on the Ordinary and
'A' Ordinary shares has widened. As at 28 September 2001 the discount on the
Ordinary shares was 7.7% (18.4% premium as at 30 March 2001) and on the 'A'
shares was 13.6% (5.8% discount as at 30 March 2001).



RESULTS AND DIVIDEND

The revenue return for the period on ordinary activities after taxation
amounted to £1,179,000, of which £432,000 will be distributed to shareholders
by way of an interim dividend, and £747,000 will be transferred to reserves.
The loss on the capital account amounted to £18,820,000 or 78.4p per share.

The Board has declared an interim dividend of 1.8p per share, payable on 21
December 2001 to both Ordinary and 'A' Ordinary shareholders on the register
of members on 7 December 2001.



OUTLOOK

The speculative boom in technology, media and telecoms stocks has now been
followed by a severe downturn in nearly all markets. Whilst the tragic events
of September in New York have increased the sense of gloom amongst the market
professionals, the impact of the mis-allocation caused by the speculative boom
was already being felt. We shall have to wait and see whether the dramatic
reduction in interest rates in the United States will have any impact in
restoring confidence. As this global recession has not been created by a
credit squeeze, the easing of monetary policy may not be as effective as in
the past. The growth in liquidity may take some time to work its way through
into the real economy, as evidence suggests that the velocity of money is
plunging everywhere. For your Company the principal impact is greater
illiquidity in some of our smaller company investments and generally weaker
share prices.



Jamie Borwick

Chairman

26 November 2001

                      (Unaudited)           (Unaudited)               (Audited)
                 Six months ended      Six months ended              Year ended
                30 September 2001     30 September 2000           31 March 2001
        Revenue  Capital    Total Revenue Capital Total Revenue Capital   Total
           £000     £000     £000    £000    £000  £000    £000    £000    £000

(Losses)/     - (18,793) (18,793)       -   5,984 5,984       - (7,224) (7,224)
gains on
investments

Exchange
(losses)/
gains on
currency      -     (27)     (27)       -      25    25       -      21      21
balances

Income    1,896        -    1,896   2,062       - 2,062   2,490       -   2,490

Investment (341)        -    (341)   (361)       - (361)   (727)       -   (727)
management fee

Other      (220)        -    (220)   (187)       - (187)   (412)       -   (412)
expenses

Net return/
(loss) before
finance
costs and 1,335 (18,820) (17,485)   1,514   6,009 7,523   1,351 (7,203) (5,852)
taxation

Interest
payable and
similar
Charges    (156)        -    (156)   (211)       - (211)   (401)       -   (401)

Return/
(loss) on
ordinary
activities 1,179 (18,820) (17,641)   1,303   6,009 7,312     950 (7,203) (6,253)
before taxation

Taxation on    -        -        -     (2)       -   (2)    (10)       -    (10)
ordinary
activities

Return/
(loss) on
ordinary
activities 1,179 (18,820) (17,641)   1,301   6,009 7,310     940 (7,203) (6,263)
after taxation

Dividends
on Ordinary
and 'A'     (432)       -    (432)   (432)       - (432) (1,200)       - (1,200)
Ordinary
shares (equity)

Transfer to  747 (18,820) (18,073)     869   6,009 6,878   (260) (7,203) (7,463)
/(from)
reserves

Return/      4.9p  (78.4)p  (73.5)p    5.4p   25.1p 30.5p   3.9p (30.0)p (26.1)p
(deficit)
per Ordinary
Share



                                        (Unaudited)    (Unaudited)   (Audited)
                                       30 September   30 September    31 March
                                               2001           2000        2001
                                               £000           £000        £000
Fixed asset investments                      91,541        113,674     103,010

Current assets
Debtors                                         407          1,720         861
Investments                                     430          3,823         870
Cash at bank                                    942          3,047       4,031
                                              1,779          8,590       5,762
Creditors

Amounts falling due within one year        (12,068)        (8,598)     (9,447)
Net current liabilities                    (10,289)            (8)     (3,685)

Net assets                                   81,252        113,666      99,325
Capital and reserves

Called up share capital                       1,200          1,200       1,200
Capital reserves - realised                  83,702         72,478      76,505
Capital reserve - unrealised                (6,178)         37,078      19,839
Revenue reserve                               2,528          2,910       1,781
Total shareholders' funds                    81,252        113,666      99,325

Net asset value per Ordinary and
'A' Ordinary share                           338.6p         473.6p      413.9p




                                      (Unaudited)     (Unaudited)   (Audited)
                                       Six months      Six months        year
                                            ended           ended       ended
                                     30 September    30 September    31 March
                                             2001            2000        2001
                                             £000            £000        £000
Net cash inflow from operating

Activities                                  1,472           4,450       5,802
Servicing of finance

Interest paid                               (163)           (196)       (390)
Net cash outflow from servicing
of finance                                  (163)           (196)       (390)
Taxation

Taxation paid                                   -               -        (22)
Financial investments

Purchases of investments                 (36,945)        (21,825)    (50,652)

Sales of investments                       31,595          20,882      47,179
Net cash outflow from financial           (5,350)           (943)     (3,473)
Investment

Equity dividends paid                       (768)           (768)     (1,200)
(Decrease)/increase in cash               (4,809)           2,543         717



NOTES TO THE INTERIM ACCOUNTS

1.          Return per Ordinary and 'A' Ordinary Share

Revenue return per share is calculated by dividing the net revenue available
for shareholders of £1,179,000, (six months ended 30 September 2000: £1,301,000,
year ended 31 March 2001: £940,000) by the 24,000,000 shares in issue. Capital 
(loss)/return per share is calculated by dividing the net capital loss available
for shareholders of £18,820,000, (six months ended 30 September 2000: gain 
£6,009,000, year ended 31 March 2001: loss £7,203,000), by the ordinary shares 
in issue as above.

2.          Comparative information

The figures and the financial information for the year ended 31 March 2001 are
an extract from the latest published accounts and do not constitute statutory
accounts for that year as defined by Section 240 of the Companies Act 1985.

Those accounts have been delivered to the Registrar of Companies and included
the report of the auditors which was unqualified and did not contain a
statement under either section 237(2) and 237(3) of the Companies Act 1985.

3.          All revenue and capital items in the above statement derive from
continuing operations.

4.          The Interim Report has been prepared using accounting policies
that are consistent with those adopted in the statutory accounts for the year
ended 31 March 2001.