Appointment of New Director

Monks Investment Trust PLC
03 June 2003

                         The Monks Investment Trust PLC

                            Appointment of Director

The Company is pleased to announce the appointment of Mr EM Harley to the Board
with effect from 3 June 2003.

Edward Harley, who is 43, is a director at Cazenove Fund Management. He joined
Cazenove in 1983, becoming a partner in 1994, and has considerable experience of
overseas markets - most recently with responsibility for the firm's business in
S.E. Asia and Australia.

He is a director of a number of companies including The Historic  Houses
Association as well as being involved with several charities.

Mr Harley does not hold any shares in the Company.

The appointment of Mr Harley falls to be ratified by Shareholders at the Annual
General Meeting of the Company to be held on 6 August 2003, when Mr Tim
Shakerley and Mr Michael Sayers will be retiring from the Board.



                                                           Baillie Gifford & Co.

                                                             Company Secretaries

                                                                     3 June 2003


                      This information is provided by RNS
            The company news service from the London Stock Exchange