Reclassification of shares

RNS Number:0472V
Dresdner RCM Emerging Mkts Tst PLC
24 April 2002

Dresdner RCM Emerging Markets Trust Plc

In accordance with the terms of the Scheme of Reconstruction of the Company,
which was approved at the EGM of Ordinary Shareholders and at the General
Meeting of Warrantholders on Monday, 22nd April 2002, the Ordinary Shares of 10p
each in the capital of the Company in issue, other than Shares held by
Restricted Holders, shall be reclassified into Shares with "A", "B" and "C"
rights reflecting elections and deemed elections by Shareholders.

According to the elections of Shareholders, the Ordinary Shares will be
reclassified, with effect from Thursday, 25th April 2002, as follows:

2,981,156 Ordinary Shares will be reclassified into Shares with "A" rights;

196,875 Ordinary Shares will be reclassified into Shares with "B" rights;

18,506,158 Ordinary Shares will be reclassified into Shares with "C" rights.

The remaining 1,621,290 Ordinary Shares held by Restricted Holders will,
according to the Scheme, not be reclassified and remain as Ordinary Shares of 10
pence each.

It is expected that the Reclassified Shares with "A", "B" and "C" rights will be
admitted to the Official List on Thursday, 25th April 2002 and that dealings
will be suspended in the Reclassified Shares with "A", "B" and "C" rights and in
the Ordinary Shares held by the Restricted Holders (which were not reclassified)
at 7.30am, on Friday, 26th April 2002. The listing of the Warrants in the
Company will be cancelled with effect from 7.30 am on Thursday, 25th April 2002.





Terms used in this announcement shall, unless the context otherwise requires,
bear the meanings given to them in the Circular to Shareholders of Dresdner RCM
Emerging Markets Trust PLC dated 26 March 2002.

The contents of this announcement have been approved by Cazenove & Co. Ltd, 12
Tokenhouse Yard, London EC2R 7AN, for the purposes of section 21 of the
Financial Services and Markets Act 2000.

Cazenove & Co. Ltd, which is regulated in the United Kingdom by the Financial
Services Authority, is acting for Dresdner RCM Emerging Markets Trust PLC and
for no-one else and will not be responsible to anyone other than Dresdner RCM
Emerging Markets Trust PLC for providing the protections afforded to customers
of Cazenove & Co. Ltd or for providing advice in relation to the Proposals or
any matter referred to herein.





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