Re Directorate

Highcroft Investment Trust PLC
4 January 2001


Board Appointment

The Company is pleased to announce that David Bowman, the Company Secretary,
has been appointed to the Board as Finance Director with effect from today's
date.

Mr Bowman is currently a director of Flipstock plc and has confirmed that
there are no matters to be disclosed in respect of paragraphs 6.F.2(b) to (g)
of the Listing Rules.

Mr Bowman currently has a beneficial interest in 13,230 of the Company's
shares and a non beneficial interest in 39,300 shares.  

Enquiries:

David Bowman 01865 840023