Exeter Selective Assets Investment Trust PLC

REPAYMENT OF BANK BORROWINGS

The Company has repaid �858,000 of its loan with Bank of Scotland and �642,000
of its loan with Lloyds TSB. Breakage costs incurred in these repayments were �
14,162 to Bank of Scotland and �10,909 to Lloyds TSB. Following these
repayments the Company has total assets (valued at mid-market prices) as at 28
November 2003 of �23.3 million, total borrowings of �15.9 million and net
assets of �7.4 million (26.6p per ordinary share). The indicative breakage
costs on the outstanding loans total �0.3 million.

The Company's assets and liabilities are as follows:

                                 �m      
                                         
Quoted Investments             23.197    
                                         
Net Current Assets              0.141    
                                         
Total Assets                   23.338    
                                         
Total Borrowings            15.916*      

*�9.059 million with Bank of Scotland and �6.857 million with Lloyds TSB.

1 December 2003



END