RNS Number:4685P
Albany Investment Trust PLC
05 September 2003

Albany Investment Trust PLC

5 September 2003

Update regarding future of the Company

The Board announced on 16 June 2003 that it was considering various options
available to it, including unitisation, with a view to narrowing the discount to
net asset value at which the Company's shares trade in the market. This review
took account of the fact that some change in the personnel involved in the
management of the Company's assets is required because of impending retirements.


Since that date, the Board has considered representations from various fund
management groups with respect to the future management of the Company's assets.
The Board has also received representations from some shareholders, including
representations in favour of continuation of a closed-end structure.


The Board is continuing to pursue discussions with various parties on the
management of the Company's assets. These discussions may or may not involve a
reconstruction or unitisation of the Company. The Board expects to announce the
result of its review as soon as possible but in any case by the time of its
planned announcement of the Company's interim results in mid-October.

Enquiries:

Albany Investment Trust:
Derrick Hanson, Chairman               01704 874 040

HSBC Bank plc, broker to Albany Investment Trust:
Mark Bloomfield                        020 7991 8888




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