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Britannic UK Inc Tst (BRU)

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Friday 21 March, 2003

Britannic UK Inc Tst

EGM Statement

Britannic UK Income Trust PLC
21 March 2003

                         BRITANNIC UK INCOME TRUST PLC

                                 20 MARCH 2003

Announcement Begins

The Directors of Britannic UK Income Trust plc ( 'the Company') announce that
they have resolved that an interim dividend of 0.5833p be paid for the period to
10 March 2003 payable on 10 April 2003 to Guaranteed Income Shareholders on the
register on 4 April 2003.  The ex dividend date is 2 April 2003.

The Directors very much regret to announce that due to insufficient support to
meet the necessary 75% majority from shareholders for the proposals detailed in
the shareholder circular dated 21 February 2003 ('the Proposals'), the
Extraordinary General Meetings of the Company and the Subsidiary and the
Separate Class Meetings of the Guaranteed Income Shareholders of the Company and
of the Zero Dividend Preference Shareholders of the Subsidiary held on 20 March
2003, were adjourned indefinitely.

The Proposals had received substantial support from all classes of shareholders,
and it is the Board's view that the Proposals would have been approved but for
the activity of a single shareholder which had recently purchased ordinary
shares and which had indicated its intention to vote its significant
shareholding against all of the resolutions to be considered at the Company's
Extraordinary General Meeting.

Announcement Ends


Enquiries:

Britannic Asset Management Press Office - 0141 222 8225/6

Donna Reid, Investment Trust Manager - 0141 222 8257


                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                                             

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