Investment Policy

Murray Income Trust PLC
29 October 2003


MURRAY INCOME TRUST PLC


Investment Policy

In anticipation of changes to the Listing Rules which come into force on 1
November 2003, the board of Murray Income Trust PLC ('the Company') announces
that, while it may from time to time hold shares in other listed investment
companies (including investment trusts), it is a stated investment policy of the
company that it shall not invest more than 10 per cent of its gross assets in
other listed investment companies (including investment trusts). As investment
in other listed investment companies currently only represents less than 1% of
gross assets, the implementation of this investment policy does not require the
Company to dispose of any existing shareholding.

By Order of the Board

Aberdeen Asset Management PLC - Secretaries

29 October 2003












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