APR Apr Energy

RNS Number:9691S
Aberdeen Preferred Income Trust PLC
14 March 2002



As previously indicated the Company's investment portfolio is substantially
invested in the Split Capital Trust Sector.   The recent further deterioration
in market sentiment towards this Sector has caused the Board to review the
Company's dividend intentions which were set out in the document dated 19
December 2001. Since the completion of the Company's reconstruction on 29
January 2002 the Company has suffered a decline in the value of its
investments.

The Company is in discussions with its bankers in respect of its banking
position.  Under the terms of the Company's arrangements with its bankers, the
Company's adjusted total assets are required to be 200% of its total
borrowings which are currently £101.9 million.  As at 12 March 2002, the
Company's total assets amounted to £191.8 million and the ratio of adjusted
total assets to adjusted total borrowings was 196.9%.

The Company has also experienced a number of dividend cuts and interest
defaults within its portfolio. In view of the above arrangements the Board,
together with the Company's bankers, considers it necessary and prudent to
retain cash resources within the portfolio.

The Board announces the suspension of the payment of interim dividends on the
Ordinary shares, commencing with the eleventh interim dividend declared on 19
February 2002 for payment on 19 March 2002 (ex dividend 27 February 2002).


Contact:
Chris Fishwick/Stephen Folland   
Aberdeen Asset Managers Limited              020 7463 6000



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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