ABERDEEN PREFERRED INCOME TRUST PLC - APR- Profile

Aberdeen Preferred Income Trust PLC. The Group's principal activity is that of an Investment Trust. The objective of the Company is to invest in securities which produce high franked investment yields. The Company is an investment company as defined by Section 266 of the Companies Act 1985. The Company has been approved by the Inland Revenue as an investment trust under Section 842 of the Income and Corporation Taxes Act 1988 for the year ended 28-Feb-2001. The affairs of the Group were conducted in such a way as to comply with the qualifying equity rule as defined in the Personal Equity Plan regulations. Investment management services are provide by Aberdeen Asset Managers Ltd for an annual fee calculated at the rate of 0.45% of the gross asset value of the Group, plus 4.5% of the gross revenue, payable monthly in arrears. The agreement is terminable by either party giving not less than twelve months' notice. Operates as an investment trust investing mainly in securities which produce high franked investment yields