RNS Number:4956T
Ivory & Sime ISIS Trust PLC
19 December 2003


NAV as at close of business on 18/12/03

ISIS Asset Management plc Investment Trusts announces the unaudited Net Asset
Values for the following Investment Trusts.

(Pence per share)


Ivory & Sime ISIS Trust                                                   63.91

Note: NAV is diluted, where appropriate.



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