GLOBAL SPECIAL OPPORTUNITIES TRUST PLC                     

 
                        Derogation from the Model Code                         

 

Pursuant to Listing Rule 15.5.1 R (Compliance with the Model Code) the Company
hereby wishes to notify the market that a closed period of the Company
commenced on 31 May 2008 and is anticipated to end following the release of the
final results in September 2008.

 
Twice weekly NAVs have been and will continue to be notified to the Exchange
and, in accordance with Listing Rule 15.5.1 (4), the Company confirms that the
Directors and the Company are not in possession of any additional price
sensitive information that has not been notified to the Exchange, nor have they
been since 31 May 2008.
 

Accordingly the Company will continue to adopt the Model Code during the close
period with the exception of the following activities, which may be undertaken:

 
(a) Dealings by persons discharging managerial responsibilities in the Company;
 

(b) Purchases by the Company of its own securities;

 
(c) Issues by the Company of securities;

 
(d)  Sales of treasury shares for cash or transfers (except for sales and
transfers by the Company of treasury shares in the circumstances set out in LR
12.6.2 R).

  



END


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