INVESTEC EUROPEAN GROWTH & INCOME TRUST LIMITED

"The Board has noted the announcement made by Red Apple Investments LLC ("Red
Apple") this afternoon that it is making a 3.25 pence per share offer for the
ordinary shares of the Company and that it currently has no intention of making
an offer for the zero dividend preference shares of the Company. The Board is
currently in discussions with its advisers as to the merits of this offer and
expects to make a further announcement in due course.

The Board has also noted that Red Apple will seek a recommendation for the
offer from the directors of the Company. No information has so far been
received by the board from Red Apple, and the board will consider any
information provided by Red Apple in giving its views.

In the meantime shareholders are advised to take no action."

Enquiries:

P A Harwood

Chairman

Investec European Growth & Income Trust Limited

Tel: +44 1481 731436

Mrs G M Nobes

Company Secretary

Investec European Growth & Income Trust Limited

Tel: +44 1481 709859



END