Dividend Declaration

    Investec High Income Trust PLC

24 April 2003  

Fourth Interim Dividend - Year to 31 March 2003

---------------------------------------------------------------

The Board of Investec High Income Trust PLC has today declared a Fourth Interim
Dividend on its Ordinary shares. The Fourth Interim Dividend is in respect of
the year ending 31 March 2003 and amounts to 2.85p net per Ordinary share
(2002: 2.50p). This includes 0.35p carried forward from the Third Quarter which
the Company was unable to pay at that time. This brings the total dividends for
the year to 31 March 2003 to 9.25p (2002: 9.25p). The dividend is payable on 19
May 2003 to shareholders on the register as at 2 May 2003.

The payment of this dividend is subject to the Company being legally permitted
to make the payment under Section 264 of the Companies Act 1985, which requires
the Company's net assets (including undistributed revenue reserves) to exceed
its share capital and undistributable reserves of £7.0 million. As at 31 March
2003 the Company did not satisfy Section 264. As at 23 April 2003 the Company
did satisfy Section 264. As at that date, the net asset value of the Company
attributable to Ordinary shareholders was £7,063,308 (ex the proposed dividend
payment). If between now and the payment date net assets fall below share
capital and undistributed reserves of £7.0 million, the fourth interim dividend
will be reduced to the extent necessary to ensure that post payment net assets
remain above £7.0 million. Prior to the payment date, the figure for net assets
including undistributed revenue reserves will be announced weekly.



END