RNS Number:6650R
Govett Asian Income & Growth Fnd Ld
04 November 2003

4 November 2003

Govett Asian Income & Growth Fund Limited

Change of Investment Manager

The Board of Govett Asian Income & Growth Fund Limited announce that they have
agreed in principle to appoint Gartmore Investment Limited ("Gartmore") as
Investment Manager to the Company. This follows the announcement by Allied Irish
Bank, p.l.c. of the intended sale of certain of the management contracts of
Govett Investment Management Limited to Gartmore Investment Management Plc. The
appointment of Gartmore will be subject to settlement of the terms of novation
of the investment management contract and certain other administrative matters
and the consent of the Guernsey Financial Services Commission.


The Board announced on 20 June 2003 that it was considering all the strategic
options for the future of the Company. This review has been ongoing. However,
your Board has not as yet had the opportunity to discuss in detail the strategic
options for the future of the Company with Gartmore. Your Board will seek to do
this as soon as it is practicable.


The Board is consulting with its advisers and Gartmore and will be writing to
shareholders shortly.


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Enquiries:

Hugh Field                                                     020 7678 8000

Hoare Govett Limited



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