Continuation Vote

RNS Number:4218S
Close Finsbury Eurotech Trust PLC
25 November 2003



                   Close Finsbury EuroTech Trust PLC


                                                                25 November 2003

*         Award of Investment Advisers
*         Continuation Vote



Close Finsbury EuroTech Trust PLC ("the Company") is pleased to announce that
Jeremy Gleeson of Reabourne Technology Investment Management Limited, the
investment adviser to the Company, has been awarded the Technology Fund Manager
of the Year Award at the TechMARK Awards 2003 in respect of the performance of
the Company.



This follows on from an increase of 43.7% in the Company's net asset value in
the year ended 31 August 2003, and the announcement by the Association of
Investment Trust Companies ("AITC") on 22 October 2003 that the Company was the
best performing AITC Member Trust over one year.



As announced on 13 November 2003, the Board of Directors of the Company ("the
Board") and its advisers have been considering the future of the Company in the
context of the Annual General Meeting of the Company which is expected to be
held on Tuesday 23 December 2003. The Board will be recommending to shareholders
that they vote at that meeting in favour of the resolution that the Company
should continue as an investment trust.



In reaching this decision the Board has taken into account the performance of
the Company as referred to above, the assessment by the Board and its investment
advisers of the prospects for the European technology sector, and the continued
value of the Company as a means of investing in relatively illiquid and highly
technical technology companies, as well as the estimated costs of winding up the
Company at this time.  As at 20 November 2003 (the latest practicable date prior
to the release of this announcement), the unaudited net asset value per share of
the Company was 40.65p. The Board estimates that as at that date the total costs
of winding up the Company including professional fees, payment due to the
Company's investment manager and investment adviser and the estimated costs of
liquidating the portfolio would be in the range of 10 - 12.5% of that amount.



The Board intends to continue to consider proposals for increasing the size of
the Company after the resolution referred to above has been passed. In the event
that the size of the Company does not substantially increase, the Board will
give shareholders a further opportunity to consider the future of the Company
not later than the Annual General Meeting to be held in 2004.



It is expected that the Company's Annual Report and Accounts for the financial
year ended 31 August 2003 will be posted to shareholders later this week.



                                    - ENDS-



For further information please contact:

Michael Bourne             Reabourne Technology Investment Management Limited
                           020 7426 6290

Alastair Smith             Close Finsbury Asset Management Limited
                           020 7426 6240

Tracey Gower               Close Finsbury Asset Management Limited
                           020 7426 6219

Fiona Harris               Quill Communications
                           020 7763 6977

Peter Gray                 Chairman
                           020 7863 6574




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