GARTMORE EUROPEAN INVESTMENT TRUST p.l.c.

Issue of shares on exercise of warrants

Gartmore European Investment Trust p.l.c. ("the Company") announces the issue
of 14,243 new ordinary shares of 50p each ("the Shares") on the exercise of the
same number of the Company's warrants. These shares are fully paid and rank
pari passu with the existing ordinary shares in issue.

Application is being made for the Shares to be admitted to the Official List of
the UK Listing Authority and for admission of the Shares to trading on the
London Stock Exchange.

Subsequent to this allotment there will be 56,145,767 Shares in issue and
6,967,242 warrants.

Gartmore Investment Limited

Secretaries

10th February 2002



END