RNS Number:8576P
Govett European Tech & Inc Tst PLC
17 September 2003



The Board of Govett European Technology and Income Trust PLC announces that, in
view of the level of expected support for the revised proposals for the
voluntary winding up of the Company and following conversations with, and
requests from, other major Shareholders, it has instructed the Manager to
realise the Company's portfolio to the extent possible. This follows the
publication of a circular to shareholders dated 5 September 2003 regarding
revised proposals for the voluntary winding up of the Company, in which the
Directors stated that they would consider instructing the Manager to realise all
or part of the Portfolio in the period before the Class Meetings and
Extraordinary General Meeting to be held on 30 September 2003 to approve those
proposals, in order to mitigate market risk in that period and hence give
greater certainty to the amounts available for distribution to Zero Dividend
Preference Shareholders.


As at 16 September 2003, the Manager had realised all of the Company's European
technology and bond portfolios and substantially all of the investment company
holdings.


As at close of business on 16 September 2003 the capital only net asset value of
the Company was approximately #1.4 million (before taking account of revenue
account losses since 11 June 2003 and the costs of the current winding up
proposals). The proceeds of realising the portfolio are expected to be received
in full by 19 September 2003 at which time all of the Company's assets are
expected to be held in cash.


As previously stated, the capital only net asset value does not include revenue
account losses since 11 June 2003 or the costs of the current winding up
proposals. Under the Proposals to be considered by Shareholders on 30 September
2003, the Company's assets (after payment of its liabilities and after deducting
the costs of implementing the Proposals) will be distributed as follows:



For each Preferred Income Share:                          3.3 pence

For each Ordinary Share:                                  0.2 pence

For each Zero Dividend Preference Share:                  the balance of the assets of the Company
                                                          proportionally




16 September 2003

Enquiries:
Simon Wilson                                                        020 7378 7979

Govett Investment Management Limited






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