Director Shareholding

Highcroft Investment Trust PLC
8 November 2000


                      Highcroft Investment Trust P.L.C.                       
                           - Director's Dealings -                            

The Company has today been informed that on 18 October 2000, Mr CA Phillips, a
non-executive director, sold 2,000 ordinary shares of Highcroft Investment
Trust P.L.C. at a price of 405p each, being the entire holding of a family
trust in which he was non-beneficially interested.  

Following this, Mr Phillips retains a beneficial interest in 52,850 ordinary
shares, representing approximately 1.02 per cent. of the Company's issued
ordinary share capital.