RNS Number:2802P
Derby Trust PLC
2 September 2003

                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     DERBY TRUST PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     NEW STAR ASSET MANAGEMENT LIMITED

3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

     IN RESPECT OF SHAREHOLDER NAMED IN 2

4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

     ACTING ON BEHALF OF DISCRETIONARY CLIENTS

5)   Number of shares/amount of stock acquired.

     650,000

6)   ( 5.50 %) of issued Class

7)   Number of shares/amount of stock disposed

     -

8)   ( N/A %) of issued Class

9)   Class of security

     INCOME

10)  Date of transaction

     1ST SEPT 2003

11)  Date company informed

     2ND SEPT 2003

12)  Total holding following this notification

     650,000
               
13)  Total percentage holding of issued class following this notification

     5.50%

14)  Any additional information, price per share etc.

     25p

15)  Name of contact and telephone number for queries

     D.J.LEWIS
     020 7402 5500

16)  Name and signature of authorised company official responsible for 
     making this notification

     Date of Notification ..... 2ND SEPT 2003 ........






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