Gartmore Balanced Assets Trust PLC

GBAT Securities PLC

Winding-up of the Companies

At the Extraordinary General Meetings held earlier today, the resolutions were
passed to wind up the Companies. The Liquidators have now been appointed. The
appointed Liquidators are Patrick Joseph Brazzill and Margaret Elizabeth Mills,
both of Ernst & Young LLP.

It is expected that holders of Zero Dividend Preference shares will receive an
initial payment of 53.16p per share on 5th November 2004.

--oo--

Enquiries:

Luke Mann (Ernst & Young LLP) 020 7951 9977

Ian Williams (Lansons Communications) 07939 543587



END



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