European Utilities Trust plc

(Formerly LeggMason Investors European Utilities Trust plc)

The Board of European Utilities Trust plc (the "Company") notes the publication
of the Investment Entities (Listing Rules and Conduct of Business) Instrument
2003 and announces that it is and always has been the Company's policy not to
invest in other listed investment companies (including listed investment
trusts).

26 November 2003



END