Five ArrowsChile Inv - Net Asset Value

RNS Number:0917N
Five Arrows Chile Inv Tst Ld
29 June 2000

            The Five Arrows Chile Investment Trust Limited (In Liquidation)
               Net Asset Value as at 27th June, 2000

The Company announces that the estimated unaudited Net Asset Value (NAV) per
share and cash and near cash equivalents at 27th June was as follows:

                                   27th June 2000       20th June 2000 

NAV per share                           1.94 US$       2.65 US$
Cash and near cash per share            1.11 US$       1.78 US$ 
before payment of expenses

Cash and near cash per share            0.94 US$       1.60 US$
available for distribution after the
payment of expenses

Cash distributed to shareholders
- per share                          *  0.70 US$
   
* On 26 June 2000 the Company made its first liquidation distribution to
shareholders of US$ 0.70 per share.
 
Note:  Following the Extraordinary General Meeting of the Company, held on 6th
April 2000, and a meeting of The Board of the Company on Tuesday 25th April to
review the position, it was announced that the number of elections received
were insufficient for the scheme of reconstruction to be implemented. The
liquidation resolution has accordingly been filed and Jeremy Spratt and
Stephen Treharne of KPMG have been appointed as joint liquidators. 

The NAV has been calculated by taking the net assets of the Company and
deducting the costs of the Proposals, a provision for Chilean With-holding tax
of 10% on realised capital gains and provisions for all undischarged
liabilities of the fund.

The figure for cash and near cash includes cash, stock and ADR's held outside
of Chile and short term cash instruments held in Chile. The amount available
for distribution is shown before and after deducting the costs of the
Proposals, a provision for Chilean With-holding tax of 10% on realised capital
gains and provisions for all undistcharged liabilities of the fund.

The estimated Net Asset Value and amounts of cash and near cash has been
prepared on an unaudited basis and provided to the Company  on a best efforts
basis.  Accordingly, no responsibility is accepted by the Company or its
advisers or agents for the accuracy of the above calculations and investors
should not rely upon this valuation when making investment decisions.

For The Five Arrows Chile Investment Trust Ltd by its Secretary Rothschild
Asset Management Limited.


END
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