Gartmore Fledgling Trust plc

Transaction in Own Securities

Gartmore Fledgling Trust plc, managed by Gartmore Investment Limited,
repurchased for cancellation, on 13th January 2004, 85,000 Ordinary shares as
made up as follows:

10,000 Ordinary shares at a price of 266.0p per share, representing 0.04% of
the Ordinary shares then in issue, and

75,000 Ordinary shares at a price of 267.0p per share, representing 0.3% of the
Ordinary shares then in issue.

This is the fourteenth and fifteenth repurchase of Ordinary shares pursuant to
a general authority given by shareholders at the Company's Annual General
Meeting held on 7th October 2003.  The Company has repurchased 1.40% of its
Ordinary shares since that date.  The two transactions have reduced the number
of Ordinary shares in issue to 24,717,505.

                                                                                                                                            
                                                             
                                                                                                                                            
                                                                                                                                            
                                                                                                                                            
                                                                                                                                            
                                                                                                                                            
                                           

GARTMORE INVESTMENT LIMITED

SECRETARIES

14th January 2004



END