RNS Number:8379R
BFS Asian Assets Trust Ld
07 November 2003

BFS ASIAN ASSETS TRUST LIMITED ("The Company")



Change of Investment Adviser

Our investment manager, BFS Investments plc ("BFS"), has appointed Gainwell
Securities Company Limited ("Gainwell") as investment adviser for the Japanese
component of the Company's Asian Growth Portfolio in place of the previous
investment adviser, Jade Absolute Fund Managers Limited ("Jade"). The investment
advisory agreement made between the Company, BFS and Jade in respect of Jade's
appointment as investment adviser to the Company's Asian Growth Portfolio has
been terminated by mutual consent. The Company's existing management fee
arrangements with BFS remain unchanged, and compensation costs for the early
termination of Jade's investment advisory agreement will be met by BFS.


Gainwell is a Hong Kong based stockbroking and investment management business,
closely associated with Shinko Securities, one of the largest Japanese
securities houses. Members of your Board have had very satisfactory meetings
with senior directors and managers of Gainwell, following which the Board has
decided with BFS to appoint Gainwell as the new investment adviser for the
Japanese component of the Asian Growth Portfolio.




Sir James Mellon

Chairman


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