Gartmore Balanced Assets Trust PLC and                     

                              GBAT Securities PLC                              

                             (together the Group)                              

In accordance with Listing Rule 21.20(l)(ii), Gartmore Balanced Assets Trust
PLC announces that at 31st July 2004 the ten largest investments were as
follows:

Company                                                 £'000     Percentage of
                                                                   Gross Assets
                                                                               
HSBC Holdings                                           1,870               6.7
                                                                               
Vodafone                                                1,587               5.7
                                                                               
BP                                                      1,554               5.5
                                                                               
Glaxosmithkline                                         1,309               4.7
                                                                               
Shell Transport & Trading                                 928               3.3
                                                                               
Royal Bank of Scotland                                    902               3.2
                                                                               
Martin Currie Enhanced Income                             826               3.0
                                                                               
Barclays                                                  826               3.0
                                                                               
BT                                                        674               2.4
                                                                               
Lloyds TSB                                                655               2.3



Gartmore Investment Limited

Secretaries

3 August 2004