Gartmore Balanced Assets Trust PLC and                     

                              GBAT Securities PLC                              

                             (together the Group)                              

Further to our announcement of 8th October 2003 The Board of Gartmore Balanced
Assets Trust PCL (the `Company') announces that it does not hold more than 15%
of its Gross Assets in other investment companies. The Board does not intend to
increase its holdings in other investment companies.

Gartmore Investment Limited

Secretaries

27th February 2004