RNS Number:2300P
Derby Trust PLC
1 September 2003


                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY
DERBY TRUST P.L.C.


2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST
EXETER HIGH INCOME UNIT TRUST


3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18
IN RESPECT OF SHAREHOLDER NAMED IN 2.


4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.
UNDER THE MANAGEMENT OF EXETER ASSET MANAGEMENT GROUP


5)   Number of shares/amount of stock acquired.



6)   Percentage of issued Class


7)   Number of shares/amount of stock disposed
650,000


8)   ( 5.50%) of issued Class


9)   Class of security
INCOME


10)  Date of transaction
1ST SEPTEMBER 2003


11)  Date company informed
1ST SEPTEMBER 2003


12)  Total holding following this notification
NIL

               
13)  Total percentage holding of issued class following this notification
0.00%


14)  Any additional information
25P


15)  Name of contact and telephone number for queries
D.J. LEWIS 020 7402 5500


16)  Name and signature of authorised company official responsible for 
     making this notification

     Date of Notification
1ST SEPTEMBER 2003

                      This information is provided by RNS
            The company news service from the London Stock Exchange

END

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