RNS Number:1415U
Ivory & Sime Optimum Inc Tst PLC
12 January 2004

NAV's as at close of business on 09/01/04

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

                                                               (Pence per share)

Ivory + Sime Optimum Income Trust                                          20.97

Note: NAVs are diluted, where appropriate.



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

END
NAVGUUGUGUPCGQP