INVESCO Recovery Trust 2005 plc                        

HEADLINE: Appointment of Director

The Board of INVESCO Recovery Trust 2005 plc is pleased to announce the
appointment of Mr Howell Hughes as a Director of the Company with effect from
18 June 2003. Mr Hughes is an independent member on the Standards Committee set
up under local government legislation to maintain standards of good governance.

INVESCO Asset Management Limited

1 July 2003



END