RNS Number:0483O
Collective Assets Trust PLC
28 July 2003

NAV as at close of business on 25/7/03

ISIS Asset Management plc Investment Trusts announces the unaudited Net Asset
Value for the following Investment Trust.

                                                       (Pence per share)

Collective Assets Trust                                          134.64

Note: NAV is diluted, where appropriate.



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

END

NAVQVLFLXDBZBBE