RNS Number:3215T
Private Investors Capital Trust PLC
16 December 2003

16 December 2003

                      PRIVATE INVESTORS CAPITAL TRUST PLC
                             DIRECTOR'S RETIREMENT

The Board of Private Investors Capital Trust PLC (PICT) announces that Mr Robin
Stormonth-Darling has retired as a non-executive Director of the Board with
effect from 16 December 2003.

Commenting on Mr Stormonth-Darling's retirement, Sir David Thomson, Chairman of
PICT, said "We are very grateful for the valuable contribution he has made to
the Board, and will miss his wise counsel and personal qualities. We wish him a
long and happy retirement."


Enquiries:
     Ivan Blair
     Adam & Company Investment Management Limited
     Tel: 0131 472 7973


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