Result of EGM

Gartmore Monthly Income Trust PLC ('Gartmore Monthly') and GMIT Securities PLC ('GMIT Securities') (together the 'Group') Result of Gartmore Monthly extraordinary general meeting The Directors of Gartmore Monthly announce that the special resolution, to change the name of the company to Gartmore Distribution Trust PLC, proposed at the extraordinary general meeting of Gartmore Monthly held earlier today was passed. Result of GMIT Securities extraordinary general meeting and separate general meeting of ZDP shareholders The Board of GMIT Securities announces that the special resolution, in respect of the proposals under which the company will make an initial distribution to ZDP shareholders and seek to realise its remaining income portfolio in a controlled manner by no later than 30 April 2004, proposed at the extraordinary general meeting of GMIT Securities and the extraordinary resolution, to sanction and effect the special resolution and implement the proposals, proposed at the separate general meeting of ZDP shareholders have each been passed. The special resolution also approved the change in name of the company to GDT Securities PLC. Accordingly, it is anticipated that the initial distribution of redemption proceeds will be made to all ZDP Shareholders on the register as at close of business on 13 May 2002 at 109.37p per ZDP Share, being the full pre-determined capital entitlement of such shares as at 30 April 2002, in respect of 80.0 per cent. of their holdings on or around 17 May 2002. As previously announced, under the controlled realisation proposals, further distributions will be made to ZDP shareholders in April 2003 and April 2004 or such other dates as the Directors believe is appropriate (for clarification, in each case when cash realisations of at least £5 million have been achieved). Following further recent realisations, as at 10 May 2002, the Group's income portfolio is comprised as follows (at mid-market prices): % of total assets %* £ million* invested in other split capital or high income trusts Class A investments 0% to 25% 70.8 18.6 Class B investments 25% to 50% 19.3 5.0 Class C investments Over 50% 9.9 2.6 Total 100.0 26.2 * Source: Gartmore Investment Limited Enquiries: Ian Williams 07939 543 587 Lansons