RNS Number:9209L
Graphite Enterprise Trust PLC
04 June 2003



                         ANNOUNCEMENT TO STOCK EXCHANGE

                         GRAPHITE ENTERPRISE TRUST PLC


                                  4 June 2003


The Board of Graphite Enterprise Trust PLC has announced that the net asset
value per share as at 31 March 2003 was 260.9p.  This represents an increase in
net asset value per share of 0.6% since 31 December 2002 and compares with a
fall of 8.3% in the FTSE All-Share Index.



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