FORM SAR 3 
 
    Lodge with a RIS or Newstrack if appropriate and the Takeover Panel. 
    A copy must also be sent to the company the shares of which are acquired. 
 
    Date of disclosure 
 
    January 15, 2004 
 
    DISCLOSURE UNDER RULE 3 OF THE RULES GOVERNING 
    SUBSTANTIAL ACQUISITIONS OF SHARES ("SARs") 
 
    Date of acquisition 
 
    January 14, 2004 
 
    Acquisition in (name of company) 
 
    GOVETT HIGH INCOME INVESTMENT TRUST PLC 
 
    1. Class of voting shares (eg ordinary shares) 
 
    Ordinary Shares 
 
    Number of shares/rights over shares acquired 
 
    8,400,000                     Shares             -         Rights 
 
    Shares purchased for 2 funds managed by Weiss Asset Management and Weiss 
Capital: 
 
    Brookdale International Partners LP(BIP)      6,132,000      shares  
    Brookdale Global Opportunity Fund (BGO)  2,268,000      shares 
 
    If rights over shares acquired, as opposed to the shares themselves, 
specify nature of rights 
 
    - 
 
    2. Resultant total holding of voting shares (and % of total voting shares 
in issue) 
 
 
    42,330,611                       29.99 % 
 
    Income Shares: 
    Brookdale International Partners (BIP)        26,344,797 shares  
    Brookdale Global Opportunity Fund (BGO)       6,915,814 shares  
 
    Ordinary Shares 
    Brookdale International Partners (BIP)        6,802,000 shares 
    Brookdale Global Opportunity Fund (BGO)       2,268,000 shares 
 
    Resultant total holding of rights over shares (and % of total voting 
shares in issue) 
 
    -       -  % 
 
    Total percentage 
 
    29.99 % 
 
    3. Party making disclosure 
 
    Weiss Asset Management 
 
    4. (a) Name of person acquiring shares or rights over shares  
 
    Weiss Asset Management LLC, Weiss Capital LLC  
  
    and, if different, beneficial owner 
 
    Brookdale International Partners LP, Brookdale Global Opportunity Fund 
 
    (b) Names of any other persons acting by agreement or understanding (see 
SAR 5) 
 
    - 
 
    Signed, for and on behalf of the party named in (3) above 
 
 
    (Also print name of signatory) 
 
    Eitan Milgram 
 
    Telephone and extension number 
 
    001-617-778-7714 
 
    Note. Under SAR 5, the holdings of and acquisitions by persons acting by 
agreement or understanding must be aggregated and treated as a holding of or 
acquisition by one person. Note 3 on SAR 5 requires persons who must aggregate 
holdings to disclose certain disposals. 
 
    For full details of the SARs disclosure requirements, see Rules 3 and 5 of 
the SARs.  If in doubt, contact the Panel on Takeovers and Mergers, Monitoring 
Section.  Tel. No: 020 7638 0129. 
Email:monitoring@disclosure.org.uk 
 
SOURCE  Weiss Asset Management LLC 
    -0-                             01/15/2004 
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