RNS Number:7233N
Govett European Tech & Inc Tst PLC
18 July 2003

                 Govett European Technology & Income Trust PLC

                          Stock Exchange announcement

                                  18 July 2003

Govett European Technology & Income Trust PLC announces that the capital only
NAV as at 11 July 2003 was 15.76p per Zero Dividend Preference share, based on
net assets (capital only) of approximately #1.44 million calculated in
accordance with the Association of Investment Trust Companies Statement of
Recommended Practice. The Board have today released the full investment
portfolio as at 11 July 2003 as shown below.

Please note that:

 a. the reported capital only net assets have previously been amended for certain
    revenue account losses as announced on 13 June 2003, but do not take into
    account losses since that date, and
 b. the mid market value of the investment companies portfolio is #159,774, while
    the value calculated on a bid basis is approx. #33,000.

The Board announces that the estimated unaudited revenue reserves as at 11 July
2003 amounted to approximately #783,000.


                             Security                                  Holding      Percentage of
                                                                                     Net Assets
                                                                                   (Capital Only)
UNITED KINGDOM
FIXED INTEREST
UK TREASURY 6.75% 26/11/04                                                  70,000           5.09%
BRITISH TELECOM 7.125% 07/12/06 GBP                                        175,000          13.27%
IMPERIAL TOBACCO FINANCE 6.875% 13/06/12 EMTN GBP                           80,000           6.15%
REXAM 7.125% EMTN 27/03/09 GBP                                             150,000          11.38%
TATE & LYLE INTL FIN 6.5% EMTN 28/06/12 GBP                                100,000           7.47%
                                                                                            43.36%
INVESTMENT COMPANIES
ABERDEEN HIGH INCOME PREF INC SHS                                          610,000           0.00%
ABERDEEN HIGH INCOME ORD GBP0.01                                         1,543,653           0.00%
ABERDEEN PREFERRED INCOME TRUST ORD GBP0.0005                              265,754           0.00%
BRITANNIC UK INCOME ORD GBP0.01                                            785,000           0.68%
BC INCOME & GROWTH ORD GBP0.25                                             350,000           0.00%
EDINBURGH LEVERAGE CUM RED CNV INC SHS GBP0                                100,000           0.18%
EDINBURGH LEVERAGED INCOME TRUST ORD GBP0.01                             1,000,000           0.69%
EXETER ENHANCED INCOME ORD 25P                                           3,000,000           0.00%
EXETER SELECTIVE ASSET ORD GBP0.01                                           4,575           0.01%
EXETER SMALLER COMPANIES INC ORD 10P                                     1,570,000           4.09%
FRAMLINGTON GLOBAL FINANCIAL & INCOME FND                                  531,915           0.19%
FRAMLINGTON HEALTH & INC FD ORD 25P                                      1,650,000           0.00%
FRAMLINGTON HEALTH AND INCOM FUND REDEEMABLE PREF SHS                      400,000           0.00%
FRAMLINGTON SPLIT ORD GBP0.10                                              850,000           0.00%
GARTMORE ABSOLUTE ORD INC 1P                                               700,000           2.19%
GARTMORE BALANCED ASSETS TRUST ORD GBP1                                    580,000           0.40%
GEARED INCOME INVESTMENT TRUST ORD GBP0.25                               1,500,000           0.00%
INVESTMENT TRUST OF INVESTMENT TRUST PREF INCOME SHARES GBP                500,000           0.95%
LEGG MASON INV INCOME & GROWTH REDEEMABLE PREF SHS                         925,000           0.00%
LEVERAGED INCOME FUND UNSEC SUB 10% LOAN STK 2005                        1,070,000           0.00%
LEVERAGED INCOME FUND ORD 25P                                              500,000           0.00%
LMI AMERICAN ASSETS TRUST ORD GBP0.10                                      750,000           0.00%
LMI STRATEGIC ASSET TRUST ORD GBP0.01                                    1,055,000           0.00%
MEDIA & INCOME TRUST ORD GBP0.025                                        1,590,000           0.00%
NEW STAR ENHANCED INC SHS GBP0.01                                          968,717           1.18%
QUARTERLY HIGH INCOME TRUST ORD GBP0.25                                  1,135,000           0.37%
THE AMERICAN INVESTMENT TRUST ORD GBP0.01                                1,834,000           0.16%
                                                                                            11.09%
EUROPEAN EQUITIES
FRANCE
SCHNEIDER ELECTRIC SA EUR8                                                     700           1.45%
STMICROELECTRONICS EUR1.04 (SICOVAM)                                         1,700           1.60%
THALES EUR3                                                                    981           1.26%
THOMSON MULTIMEDIA EUR3.75                                                   2,200           1.48%
ALCATEL EUR2 SERIES 'A'                                                      7,200           2.78%
BOUYGUES EUR1                                                                1,225           1.41%
GERMANY
DEUTSCHE TELEKOM EUR NPV (REGD)                                              8,700           5.33%
SAP AG ORD SHS EUR NPV                                                         400           2.02%
SIEMENS AG EUR NPV (REGD)                                                    1,500           3.32%
NETHERLANDS
KONINKLIJKE KPN NV EUR0.24                                                   4,000           1.15%
PHILIPS ELECTRONICS (KON) EUR0.20                                            4,400           3.84%
ITALY
TELECOM ITALIA SPA DI RISP EUR0.55                                          18,500           4.19%
SAIPEM SPA EUR1                                                              6,300           2.03%
SPAIN
INDRA SYSTEMS EUR0.2                                                         4,400           2.08%
TELEFONICA SA EUR1                                                          14,033           6.78%
FINLAND
NOKIA (AB) OY EUR0.06                                                        7,971           6.00%
SWEDEN
ERICSSON (LM) TEL SWKR1.00                                                  45,000           2.08%
SWITZERLAND
LOGITECH INTL CHF1 (REGD)                                                      450           0.54%
                                                                                            49.34%
NET CURRENT LIABILITIES (incl. Cash)                                                        -3.79%
                                                                                           100.00%




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