Corporate Action

Henderson High Income Trust PLC
21 July 2000

CAPITAL REORGANISATION
SECURITY TITLE
*Ord Shs
MNEMONIC CODE   *HHI
SEDOL CODE      *869-546
TERMS           *Substituting for every Ord share currently held, the
                 issue, free of new consideration, of one Unit comprising 
                 one New Ord share in the Company and one new Zero
                 Dividend Pref share in Henderson High Income Securities plc.
PROVISIONAL EFFECTIVE DATE *17-08-00
NOTES *The effective date for the Capital Reorganisation is subject to approval
at the EGM 16-08-00.