INVESCO City & Commercial Trust plc                      

HEADLINE: Monthly portfolio disclosure

INVESCO City & Commercial Trust plc announces that, as at 30 November 2003, it
held the following investments in listed investment companies (including
investment trusts) that have not declared a policy to invest less than 15% in
other listed investment companies.

Company                                           Issue         % of gross 
                                                                  assets*  
                                                                           
British Empire Securities & General Trust        Ord 10p           5.43%   
                                                                           
Electra Investment Trust                         Ord 25p           3.99%   
                                                                           
Alliance Trust                                   Ord 25p           3.22%   
                                                                           
Martin Currie Capital Return Trust        A Shs 1p Realisation     1.83%   
                                                                           
Shires Income Trust                              Ord 50p           1.66%   
                                                                           
Advance Developing Markets Trust                 Ord 1p            1.37%   
                                                                           
Martin Currie Portfolio Trust                    Ord 5p            1.36%   
                                                                           
Oryx International Growth Fund                   Ord 50p           0.95%   
                                                                           
Exeter Selective Assets Trust                    Ord 1p            0.41%   
                                                                           
Morley Absolute Growth Investment Company        Ord 1p            0.05%   
                                                                           
BFS Absolute Return Trust                     Capital 0.1p         0.03%   

* Subject to successful settlement of trades outstanding on the relevant date.

This announcement is made in accordance with Paragraph 21.20(l)(i) of the
Listing Rules.

INVESCO Asset Management Limited

3 December 2003



END