RNS Number:6431K
BFS Absolute Return Tst Ld
01 May 2003


BFS ABSOLUTE RETURN TRUST LIMITED ("the Company")
NOTIFICATION OF MAJOR INTERESTS IN SHARES

The Company has today been informed by BFS Investments plc ("BFS") that BFS
manages the following Income shares of 0.1 pence each in the Company on behalf
of various funds under management:

Fund                                                         Income shares held  % of issued share
                                                                                        class

BFS Asian Assets Trust Ltd                                             1,845,968        2.80%
BFS Equity Income & Bond Trust Ltd                                     1,444,355        2.19%
BFS Income & Growth Trust PLC                                          3,950,000        5.98%
BFS Managed Properties Ltd                                             3,080,516        4.67%
BFS UK Dual Return Trust PLC                                             100,000        0.15%
BFS US Special Opportunities Trust PLC                                 1,100,000        1.67%
Discretionary clients                                                    385,096        0.58%



The total number of the Company's Income shares managed by BFS is 11,905,935
shares, representing 18.04% of the issued share capital of that class.

The Company has also today been informed by BFS that BFS manages the following
Capital shares of 0.1 pence each in the Company on behalf of various funds under
management:

Fund                                                        Capital shares held  % of issued share
                                                                                       class

BFS Asian Assets Trust Ltd                                             1,845,968        2.80%
BFS Equity Income & Bond Trust Ltd                                     1,144,355        1.73%
BFS Income & Growth Trust PLC                                          3,950,000        5.98%
BFS Managed Properties Ltd                                             1,900,000        2.88%
BFS US Special Opportunities Trust PLC                                 1,100,000        1.67%
Discretionary clients                                                    975,753        1.48%



The total number of the Company's Capital shares managed by BFS is 10,916,076
shares, representing 16.54% of the issued share capital of that class.

The total number of voting shares managed by BFS is 22,822,011 shares,
representing 17.29% of the total voting shares in issue.



Channel Islands Fund Services Limited, Company Secretary

1 May 2003


                      This information is provided by RNS
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