RNS Number:3221T
Private Investors Capital Trust PLC
16 December 2003



16 December 2003

                      PRIVATE INVESTORS CAPITAL TRUST PLC

                            APPOINTMENT OF DIRECTOR

Private Investors Capital Trust PLC is pleased to announce that Mrs Sarah Bates
has been appointed as a non-executive director of the company with effect from
16 December 2003.

Mrs Bates has been involved with investment management since 1980 and has had
particular experience of investment trusts. She was Chief Executive of INVESCO
Institutional UK and was Managing Director of their investment trust business in
the 1990s.

Sir David Thomson, Chairman, said "we are very pleased that Sarah has agreed to
join the Board. Her extensive business experience of the investment trust sector
will be of great benefit".

Mrs Bates is currently a director of INVESCO English and International Trust plc
(appointed on 26 November 1999) and has also been appointed as a director of F&C
Pacific Investment Trust plc (with effect from 1 January 2004). No other
directorships in publicly quoted companies have been held in the past five
years. No information is required to be disclosed under paragraphs 6.F.2 (b) to
(g) of the Listing Rules.



Enquiries:

Ivan Blair

Adam & Company Investment Management Limited

Tel: 0131 472 7973







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