RNS Number:3598R
ISIS Asset Management PLC
28 October 2003

To: London Stock Exchange

Attention: RNS

Date: 28 October 2003

From: ISIS Asset Management plc ("ISIS")


Report on funds under management as at 30 September 2003.

1.     Funds under Management           30 September      30 June  31 December  
                                                2003         2003         2002     
                                                 #bn          #bn          #bn      
       Life & Pensions                          53.5         52.9         52.6     
       Open Ended Products (Third Party)         1.9          1.8          1.5      
       Investment Trusts                         1.3          1.3          1.2      
       Institutional Clients                     4.8          4.4          4.4      
       Limited Partnerships                      0.2          0.2          0.2      
       Venture Capital Trusts                    0.2          0.2          0.2      
                                                61.9          60.8         60.1     
 

                                                                                                        
                2.     Funds under Management by Asset Class    30 September    30 June    31 December  
                                                                    2003          2003         2002     
                                                                     #bn          #bn          #bn      
                Fixed Interest                                      31.8          31.4         31.2     
                UK Equities                                         15.2          15.6         15.4     
                Overseas Equities                                    5.9          5.4          5.3      
                Private Equity                                       0.4          0.5          0.4      
                Property                                             4.6          4.6          4.6      
                Liquidity                                            4.0          3.3          3.2      
                                                                    61.9          60.8         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.


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

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