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GSCOT Securities PLC (GBAZ)

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Thursday 28 February, 2002

GSCOT Securities PLC

Re Interim Results

GSCOT Securities PLC
28 February 2002

                              GSCOT Securities PLC


                              INTERIM ANNOUNCEMENT
                    FOR THE SIX MONTHS TO 31st JANUARY 2002


The Company, which is a wholly owned subsidiary of Gartmore Split Capital
Opportunities Trust PLC ('GSCOT'), was launched in November 1999. It has a fixed
life to 1st November 2004 and was established to provide gearing to the parent
company, in the form of Zero Dividend Preference ('ZDP') shares, and to enable
the parent to have an indefinite life. Arrangements are in place between GSCOT
and GSCOT Securities PLC to safeguard the interests of the ZDP shareholders and
to provide that they receive their final capital entitlement (subject to there
being sufficient assets available) on the ZDP repayment date.


As the Company is a wholly owned subsidiary the interim results announced today,
28th February 2002, by GSCOT incorporated the Company's results. The Board do
not consider that it is necessary to announce separate interim results
(statement of total return and balance sheet) for the Company as it holds only a
token portfolio, which generates minimal revenue. The interim report for the
Group will be posted to shareholders shortly.


The Net Asset Value of the ZDP's on 31st January 2002 was 112.8p, which
represents 96.7% of their accrued entitlement at that date. The ZDP's were
covered 0.7 times for repayment on 1st November 2004.


Gartmore Investment Limited
Secretaries
28th February 2002





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