Issue of Equity

RNS Number:1987V
Charter Pan-European Trust plc
29 April 2002





Charter Pan-European Trust plc ("the Company") and Charter European Trust plc
(in members voluntary liquidation)


Following the scheme of reconstruction of Charter European Trust plc ("Charter
European"), 52,701,805 ordinary shares in the Company have been issued to those
shareholders in Charter European that have rolled over into the Company. The
basis of allotment was 2.74048372 new ordinary shares for every one share in
Charter European.


As previously announced, 865,100 ordinary shares have been issued pursuant to
the offer for subscription. As such, the issued share capital of the Company
upon admission will be 53,566,905.


The initial net asset value per ordinary share in the Company, based on values
as at the close of business on 26 April 2002, is estimated to be 149.8p


Shareholders of Charter European who elected for the Cash Option have now been
allotted one share in Charter Cash Fund Limited for each share in Charter
European in respect of which the election was made. Charter Cash Fund Limited
itself is now in liquidation and it is anticipated that distributions in respect
of this will be despatched at the rate of 423.1847 pence per share held.


Enquiries


Peter Ingram                    Tel:     [phone]

Charter Pan-European Trust plc



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