PABI Prem. Abs.

    FOR IMMEDIATE RELEASE

PAGIT Securities plc ("the Company")

1 November 2007

Further re Proposals for the voluntary winding-up and reconstruction of the
Company

Result of Class Meeting and First General Meeting

At the Class Meeting of ZDP Shareholders and the First General Meeting of the
Company, a subsidiary of Premier Absolute Growth & Income Trust plc, held
today, all of the resolutions were passed. Accordingly, the ZDP Shares have
been reclassified as Reclassified Shares.

Based on the Forms of Election received by 3.00 pm yesterday, 1,447,701 ZDP
Shares will be reclassified as Reclassified Shares with A rights and will
therefore receive Premier Absolute Growth Fund Shares and 6,578,299 ZDP Shares
will be reclassified as Reclassified Shares with B Rights and will receive
cash.

The Calculation Date when respective entitlements will be calculated is 5.00 pm
on 7 November and the Second General Meeting (or if the Scheme does not become
unconditional then, the Third General Meeting) will take place on 8 November.
On that day, the General Meeting of Premier Absolute Growth & Income Trust plc
will also take place. A further announcement will be made following these
meetings.

If the Scheme becomes unconditional, contract notes for Premier Absolute Growth
Fund Shares and cheques will be despatched on 9 November 2007 and in the week
commencing 12 November 2007 respectively.

Terms used in this announcement shall have the same meaning as in the Circular
dated 9 October 2007.

Enquiries

Premier Fund Managers
Nigel Sidebottom
+44 (0)1483 400465

Landsbanki Securities (UK) Limited
Paul Fincham/Jonathan Becher
+44 (0)20 7426 9000

Landsbanki Securities (UK) Limited, which is authorised and regulated in the
United Kingdom by the Financial Services Authority, is acting solely for the
Company and for no one else in connection with the Proposals and will not be
responsible to anyone other than the Company for providing the protections
afforded to clients of Landsbanki Securities (UK) Limited or for affording
advice in relation to the Issue or any matter referred to in this document.



END

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