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Gartmore Balanced (GTB)

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Wednesday 08 October, 2003

Gartmore Balanced

Statement re Investment Policy and Fund Manager

Gartmore Balanced Assets Trust PLC

Investment Policy

The Board of Gartmore Balanced Assets Trust PLC (the `Company') notes the
publication of the Investment Entities (Listing Rules and Conduct of Business)
Instrument. Approximately 20% of the Company's Gross Assets currently comprise
shares in other investment companies, but the Board and the Manager continue to
implement a new investment policy agreed by shareholders in September 2002 to
gradually dispose of its income share portfolio. The pace at which such
disposals can proceed without sacrificing shareholder value in the process
depends on market conditions, but the Board intend such holdings to be not more
than 15% as soon as is reasonably possible.

Fund Manager

The Board has agreed that Julie Skedd will assume responsibility for the
management of the assets of the Group, reporting to Chris Burvill, head of
Gartmore's UK Equity Income team. Julie is a key member of the UK Equity Income
team which provides the investment management services to the Group.

Press Enquiries: Ian Williams, Lansons Communications, 07939543587


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