ADD Adv.Dev.Mkts

    Subscription shares: update
             



FOR IMMEDIATE RELEASE

Advance Developing Markets Trust plc (the "Company")

Subscription Share Issue; Delay and change of sponsor

13 October 2008


The Board of Directors of Advance Developing Markets Trust plc
announces that it has been informed today by Teathers Limited
(formerly Landsbanki Securities (UK) Limited) ("Teathers") that
Teathers is unable to continue to act as the Company's sponsor for
the purposes of the Listing Rules in connection with the proposed
issue and listing of Subscription Shares which was planned to occur
on 14 October 2008.  Teathers' resignation follows discussions
between the FSA and Teathers and is in no way related to the Company
or its state of affairs.

The Company is in discussions with a replacement sponsor, which it
intends to appoint as soon as practicable.  The Subscription Shares
will be issued when a replacement sponsor has been appointed and the
prospectus to be issued in connection with the Subscription Shares
has been approved by the UKLA.  Accordingly the timetable announced
by the Company on 6 October 2008 for the issue of the Subscription
Shares will be delayed and the record date for the Subscription
Shares will not be 13 October 2008.  A further announcement setting
out the revised timetable for the issue of the Subscription Shares,
and the amended record date, will be made as soon as possible. The
Company will seek to minimise this delay.

Words  and  expressions   defined  in  the   Company's  circular   to
shareholders dated 15 July, 2008 shall bear the same meaning in  this
announcement.

Enquiries:

Peter O'Connor
Chairman
020 7489 5353

Nigel Wilson/Slim Feriani
Progressive Developing Markets Limited
020 7566 5520


END

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This announcement is originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.

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