Holding in Company

FINSBURY TECHNOLOGY TRUST PLC


                    DEALINGS BY SUBSTANTIAL SHAREHOLDERS

1)  NAME OF COMPANY

FINSBURY TECHNOLOGY TRUST PLC

2)  NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

MERCHANT INVESTORS ASSURANCE COMPANY LTD

3)  Please state whether notification indicates that it is in respect of holding
    of the Shareholder named in 2 above or in respect of a non-beneficial
    interest or in the case of an individual holder if it is a holding of that
    person's spouse or children under the age of 18

BENEFICIAL INTEREST

4)  Name of the registered holder(s) and, if more than one holder, the number of
    shares held by each of them.

THE BANK OF NEW YORK (NOMINEES) LTD

5)  Number of shares/amount of stock acquired.

200,000

6)  (0.75%) of issued Class

7)  Number of shares/amount of stock disposed

NIL

8)  ( N/A %) of issued Class

9)  Class of security

25P ORDINARY

10) Date of transaction

8 OCTOBER 1999

11) Date company informed

12 OCTOBER 1999

12) Total holding following this notification

1,100,000

13) Total percentage holding of issued class following this notification

4.14%

14) Any additional information

N/A

15) Name of contact and telephone number for queries

DAVID FALLON 0171 397 6987
REA BROTHERS LIMITED

16) Name and signature of authorised company official responsible for making
    this notification


    Date of Notification....12 OCTOBER 1999.....