RNS Number:2501Z
Personal Assets Trust PLC
29 July 2002



NAV as at close of business on 26/07/02

Friends Ivory & Sime Investment Trusts announces the unaudited Net Asset Value
for the following Investment Trust.

                                                               (Pence per share)

Personal Assets Trust                                                   18656.94

Note: NAV is diluted, where appropriate.



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