GFV Guin.Flght Vct

    The board of Guinness Flight Venture Capital Trust Plc today announces that,
subject to finalisation of contracts, with effect from 1 August 2004 Inflexion
Managers Limited, currently investment adviser to the Company, will be
appointed as its manager. Investec Investment Management Limited, the previous
manager, will remain as the provider of company secretarial and administrative
services to the Company.

Further enquiries - Simon Turner, Inflexion Managers Limited

020 7487 9833



END

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