RNS Number:5836U
Collective Assets Trust PLC
23 January 2004

NAV's as at close of business on 22/01/04

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

(Pence per share)

Collective Assets Trust                                                   145.77




Note: NAVs are diluted, where appropriate.






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

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