GARTMORE BALANCED ASSETS                                                                                                                                                              
NAV PER SHARE (BID BASIS)                                                     As at 31-May-04                                                                                           
including undistributed current year revenue.                                                                                                                                         
The value of Total Assets and the NAVs have been calculated valuing the                                                                                                               portfolio at BID prices.                                                                                                                                                              
This is consistent with the annual results announced 23 October 2003 which                                                                                                            based the valuation of investments on BID prices.                                                                                                                                     
The value of Total Assets with the portfolio valued on a BID basis is announced                                                                                                       monthly.                                                                                                                                                                              
GARTMORE BALANCED ASSETS            Ordinary shares                                   0.0p                                                    
GBAT SECURITIES PLC                 Zero Dividend Preference shares                   50..45                                                  
CONSOLIDATED TOTAL ASSETS                                                             £29.33m