ITY Invesco Tokyo

RNS Number:0214B
INVESCO Tokyo Trust PLC
11 September 2002

INVESCO Tokyo Trust PLC (the "Company" or "ITT")


11 September 2002


The Company has posted a circular to Shareholders and Warrantholders in relation
to the Proposals that were announced on 14 August 2002. Under the Proposals,
Shareholders are being offered the opportunity, pursuant to a voluntary
liquidation of the Company and scheme of arrangement under section 110 of the
Insolvency Act 1986, to roll over their investment into the Company in a
low-cost, tax efficient and flexible manner into new ordinary shares of
Perpetual Japanese Investment Trust PLC ("PJIT") and/or receive cash. In
addition, certain eligible shareholders may reinvest in the INVESCO Japan Alpha
Fund, a new open-ended fund investing in Japan. The existing INVESCO Tokyo
Warrants will lapse in accordance with their terms and new PJIT warrants will be
offered to Warrantholders.


The full terms of the Proposals are set out in the above-mentioned circular and
shareholders are also referred to the prospectus and circular to shareholders
posted by PJIT.



The expected timetable is as follows:
                                                                                                           2002
Date from which it is advised that dealings in ITT Ordinary Shares should                          27 September
only be for cash settlement and immediate delivery of documents of title

Latest time for receipt of Forms of Election for use in relation to Scheme        11.00 a.m.          1 October

Latest time for receipt of forms of proxy for use in relation to First            11.00 a.m.          1 October
Extraordinary General Meeting and Warrantholders' Meeting
ITT's registers of members and Warrantholders closes and record date for ITT                          1 October
Shareholders' and Warrantholders' entitlements to assets under Scheme

First Extraordinary General Meeting                                               11.00 a.m.          3 October

Warrantholders' Meeting                                                           11.05 a.m.          3 October
ITT Ordinary Shares sub-divided and consolidated into Reclassified Shares;                           11 October
Warrants lapse
Register of members in respect of Reclassified Shares opens                                          11 October

Dealings in Reclassified Shares commence                                           7.30 a.m.         11 October

Latest time for receipt of forms of proxy for use in relation to Second            9.30 a.m.          3 October
Extraordinary General Meeting

Time as at which ITT Shareholders' and Warrantholders' entitlements to             4.30 p.m.         14 October
assets under Scheme are determined (the Calculation Date)

Dealings in Reclassified Shares suspended                                                            14 October

Second Extraordinary General Meeting                                               9.30 a.m.         15 October

Effective date for implementation of Proposals                                                       15 October

Date on which ITT's assets are transferred to PJIT                                                   15 October

Dealings commence in new PJIT Ordinary Shares and PJIT Warrants                                      16 October

Certificates for PJIT Ordinary Shares and PJIT Warrants despatched                                   23 October

Cheques despatched or CHAPS payment made to ITT Shareholders who have                                23 October
elected for the Cash Option

Cash invested into Japan Alpha for Eligible Shareholders opting for the                              23 October
Reinvestment Option



Enquiries:

Graeme Proudfoot INVESCO Asset Management Limited 020 7626 3434


Angus Gordon Lennox Cazenove & Co. Ltd 020 7825 9880


END

Terms used in this announcement shall, unless the context otherwise requires,
bear the meanings given to them in the Circular to Shareholders of INVESCO Tokyo
Trust PLC dated 10 September 2002.


The contents of this announcement have been approved by Cazenove & Co. Ltd, 12
Tokenhouse Yard, London EC2R 7AN, for the purposes of section 21 of the
Financial Services and Markets Act 2000.


Cazenove & Co. Ltd, which is regulated in the United Kingdom by the Financial
Services Authority, is acting for INVESCO Tokyo Trust PLC and for no-one else
and will not be responsible to anyone other than INVESCO Tokyo Trust PLC for
providing the protections afforded to customers of Cazenove & Co. Ltd or for
providing advice in relation to the Proposals or any matter referred to herein.







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

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