Gartmore Balanced Assets Trust PLC

The Company announces that today it has repaid £2,500,000 of its loan facility,
together with associated loan and swap breakage costs of £6,024 to the Royal
Bank of Scotland using liquid assets held by the Company. The Company now has
outstanding borrowings of £10,700,000.

Enquiries

Ian Beveridge - Gartmore 020 7782 2000

16 September 2004