RNS Number:9110T
Ivory & Sime ISIS Trust PLC
6 January 2004



NAV as at close of business on 05/01/04

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

                                                               (Pence per share)

Ivory & Sime ISIS Trust                                                    65.50


Note: NAV is diluted, where appropriate.





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