RNS Number:4603K
ISIS Asset Management PLC
29 April 2003

To: London Stock Exchange

Attention: RNS

Date: 29 April 2003

From: ISIS Asset Management plc

ISIS Asset Management plc ("ISIS")

Report on funds under management as at 31 March 2003.


1. Funds under Management                                   31 March                 31 December
                                                                2003                        2002

                                                                 #bn                         #bn
Life & Pensions                                                 51.1                        52.6
Open Ended Products (Third Party)                                1.6                         1.5
Investment Trusts                                                1.1                         1.2
Institutional Clients                                            4.3                         4.4
Limited Partnerships                                             0.2                         0.2
Venture Capital Trusts                                           0.2                         0.2
                                                                58.5                        60.1

2. Funds under Management by Asset Class                    31 March                 31 December
                                                                2003                        2002

                                                                 #bn                         #bn
Fixed Interest                                                  31.8                        31.2
UK Equities                                                     13.7                        15.4
Overseas Equities                                                4.9                         5.3
Private Equity                                                   0.4                         0.4
Property                                                         4.6                         4.6
Liquidity                                                        3.1                         3.2
                                                                58.5                        60.1

Notes:

For ongoing reporting purposes, the board of ISIS believes that it is
appropriate to issue quarterly reporting of funds under management but to adopt
the under noted principles in terms of new business flows.

1) New business flows for the periods to 30 June and 31 December will be
commented on where client confidentiality permits in the Half Year Report and
Annual Report respectively.

2) Material new business flows will be announced to the market as they occur,
subject to client approval.

3) The quarterly reports will report funds under management and will comment on
salient features as considered appropriate.

The board of ISIS believe that these reporting arrangements, when taken together
with the Annual Report, Half Year Report and other releases, allow greater
clarity and understanding of the revenue implications of fund movements that are
more relevant to the company's financial performance. The content of quarterly
business announcements will continue to be factual and explanatory, neither
giving (nor intending to give) any indication of current or future trading.








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