21.20 Announcement

HG Capital Trust PLC
04 April 2005

HgCapital Trust plc

Pursuant to Listing Rule 21.20. (1) (i) HgCapital Trust plc announces that, as
at the last business day of March 2005, it had no investments in listed
investment companies whose investment policies allow them to invest more than
15% of their gross assets in other listed investment companies.

04 April 2005


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