Portfolio Update

    Gartmore Growth Opportunities plc

Portfolio Update

The Company's investment objective is to generate high capital returns by
identifying attractive stocks in rising markets and doing so with an eye to
maintaining shareholder value to a degree at times of market weakness.

As previously announced, the Company holds Put options as a measure to help to
give some protection to past capital gains that have been achieved by the
Company in the event that the equity market fell back.

In the current equity market conditions these options have significantly
increased in value. The Directors have taken advantage of this and have
realised half of the Put options held, locking in a capital profit of
approximately £4.7 million.

The following Put option positions continue to be held, which in aggregate
currently represent approximately 13% of the net assets of the Company.

250 LIFFE FTSE 100 Index Put 5800 September 2009
265 LIFFE FTSE 100 Index Put 5600 September 2009

Compared with the Company's benchmark, the FTSE SmallCap (excluding investment
companies) Index which has lost 36.8% in the calendar year to date, the Net
Asset Value per Ordinary share (including revenue) has fallen by just 9%.


For further enquiries
Gervais Williams 020 7782 2916

08 October 2008



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