RNS Number:6855P
Govett Enhanced Income Inv TrustPLC
11 September 2003


The following are the estimated values based on mid market prices at the close of business on

10 September 2003:
                                                                  Ordinary share NAV         Gross Assets (capital
                                                                  (capital only)             only)
Govett European Enhanced Investment Trust PLC *                   0.93p                      #43.22m

11 September 2003

*The Company announces that, following the preliminary announcement on 4
September 2003 of its financial results for the year ended 31 May 2003, it has
changed the basis for the daily calculation of the net asset value of its
ordinary shares to include only audited revenue reserves.

Since 13 February 2003, the capital only NAV has included the current year
revenue account balance in its calculation due to the fact that dividends
declared during the year to 31 May 2003 had been drawn in part from the audited
revenue reserves arising from previous years. This was in line with the
announcement published on 13 February 2003.

The capital only NAV will now exclude the current year net revenues (being the
accounting year from 1 June 2003 to 31 May 2004) to the extent that it remains
in surplus. If the current year revenue account falls into deficit the capital
only NAV will include such a deficit in its calculation. In the case of the
monthly disclosures to the AITC, a cum-income NAV figure will continue to be
disclosed which includes the estimated unaudited current year net revenue
account balance.

The net asset value announced on 5 September 2003 was 1.45 pence per ordinary
share. On the new basis, the net asset value would have been stated as 0.93
pence per ordinary share.

The Company believes that the use of audited revenue reserves (as at 31 May
2003) is a more conservative basis for ordinary shareholders. It eliminates the
need for daily estimates of revenue account items and is in line with
recommended practice.


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