RNS Number:0762U
Collective Assets Trust PLC
9 January 2004



NAV is at close of business on 08/01/04


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

                                                               (Pence per share)


Collective Assets Trust                                                   146.13


Note: NAV is diluted, where appropriate.





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