Net Asset Value(s)

RNS Number:9260T
American Investment Trust Limited
6 January 2004

Aberdeen Asset Management Limited announces the unaudited net asset values of
the following Investment Trust as at close of business on 05 January 2004

American Investment Trust                     0.00p     XD Ordinary
American Investment Trust                   37.756p     ZDP
American Investment Trust**                   0.00p     XD Annuity

**"As disclosed in the recently published 2002 Annual Report, in the event of a
winding up of the Company, the Articles of Association give a priority
participation right in the assets of the Company to holders of Annuity Shares,
after payment of the liabilities and satisfying the claims of creditors
(including payment of amounts due to American ZDP Limited in respect of its
liability on the Zero Dividend Preference Shares). Any surplus is used to pay 1p
per share to Annuity shareholders, together with arrears of dividends not
declared. At present valuations, no such surplus would be available."



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