Result of EGM

RNS Number:2820T
Derby Trust PLC
15 December 2003

Derby Trust p.l.c.

Result of the First Extraordinary General Meeting

The Board of Derby Trust p.l.c. (the "Company") is pleased to announce that at
the Extraordinary General Meeting of the Company held today, 15 December 2003,
the resolutions approving the scheme of reconstruction of the Company (the "
Scheme") put to the meeting were duly passed, and at separate general meetings
of the holders of Income Shares and the Capital Shares, Shareholders gave their
separate class consent to the Scheme.

The last date for receiving Forms of Elections was 12 December 2003. The results
of the Elections are shown in the table below:


Option                                        Income shares                      Capital shares

Fidelity Special Values                          102,598                            1,339,084
Fidelity Special Situations                       38,574                             906,623
Fidelity Income Plus                             111,337                             173,921
Fidelity MoneyBuilder Income                      49,086                             71,061
Fidelity WealthBuilder                            2,077                              178,705
Fidelity Cash Fund                                1,922                              73,052
Cash                                            11,504,386                         12,597,068
Total                                           11,809,980                         15,339,514

A further Extraordinary General Meeting will be held on 30 December 2003 at
9.00am at which resolutions will be proposed for the winding up of the Company,
the appointment of liquidators, and the provision of appropriate powers to the
liquidators. Shareholder entitlements pursuant to the Scheme will be announced
by the Company in due course following the second extraordinary general meeting.

Expected Timetable
                                                                           2003/2004

Record Date for entitlements of Income Shareholders to the second          19 December
interim dividend expected to be paid on 29 December 2003

Latest time and date for receipt of Forms of Proxy for use at the Second   9.00am on 28 December
AGM

Opening of registers in respect of Reclassified Shares and dealings in     7.30am on 29 December
Reclassified Shares expected to commence

Second Interim dividend paid to Income Shareholders                        29 December

Calculation Date                                                           Close of business on 29 December

Dealings in Reclassified Shares suspended                                  8.00am on 30 December

Second EGM                                                                 9.00am on 30 December

Effective Date                                                             30 December

Cheques expected to be despatched in respect of the Cash Option            2 January

Transfer Date for transfer of assets to the Rollover Funds other than      2 January
Fidelity Special Values

Transfer Date for transfer of assets to Fidelity Special Values            5 January

Dealings expected to commence in Fidelity Special Value Shares             6 January

Uncertificated Fidelity Special Values Shares credited to CREST accounts   6 January

Confirmation letters despatched in respect of Securities of Rollover       6 January (or as soon as
Funds                                                                      practicable thereafter)

Certificates despatched in respect of Fidelity Special Values Shares       7 January (or as soon as
issued in certificated form                                                practicable thereafter)

Cancellation of listing of Shares                                          30 December (2004)



Enquiries:

Christopher Smith                                                020 7588 2828
Cazenove & Co. Ltd



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