INVESCO Recovery Trust 2005 plc                        

Headline: First Interim Dividend

The Directors have declared the first interim dividend for the year ending 31
October 2003 of 2.2625p per Ordinary Share payable on 30 April 2003 to Ordinary
Shareholders on the register on 4 April 2003.

Karina Bryant

for and on behalf of

INVESCO Asset Management Limited



END