RNS Number:3423U
Collective Assets Trust PLC
16 January 2004


NAV as at close of business on 15/01/04

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

(Pence per share)


Collective Assets Trust                                                   144.87

Note: NAV is diluted, where appropriate.


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