Net Asset Value - Amendment

RNS Number:5030H
Dresdner RCM Endwmnt Policy2003 PLC
25 July 2001


Dresdner RCM Endowment Policy Trust 2003 plc

The issuer advises that the folllowing replaces the "Net Asset Value"
announcement released on 25th July 2001, at 15.17pm under RNS Number 4936H.

The value of shares received in respect of the demutualisation of Friends
Provident and the proceeds expected from the demutualisation of Scottish
Provident should be #0.43m instead of #0.25m. All other details remain
unchanged.


The full amended text appears below.


The Company announces that the unaudited net asset value as at 30th June 2001
was 229.4p per Ordinary Share.

The Net Asset Value per Ordinary Share includes the value of shares received
in respect of the demutualisation of Friends Provident (valued at the offer
price) and a conservative estimate of proceeds expected from the
demutualisation of Scottish Provident, of #0.43m.



10 Fenchurch Street               By Order of the Board

London EC3M 3LB                    P W I Ingram

25th July 2001                    Company Secretary

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