Subsid's Acquisition, etc.

HIGHCROFT INVESTMENT TRUST PLC
1 October 1999

Highcroft   Investment   Trust  PLC  -   Commercial   Property
Investment

On  2  August 1999 a subsidiary of Highcroft Investment  Trust
PLC,  Rodenhurst Estates Limited, completed the  purchase  for
cash  of an office property at a purchase price of £2,520,000.
It  is  in  Queen  Square, Bristol, which is a primary  office
area.  The property is let to Eversheds, solicitors, on a sub-
lease  from  the Royal & Sun Alliance on leases  that  run  to
2013.   Net  rental  income is expected to  be  £200,000,  per
annum.

On  27  August 1999, Rodenhurst Estates Limited also completed
the  construction of a distribution centre for the Post Office
at  a contract cost of £2,162,000 which was also funded out of
cash  resources.  It is in Kidlington, Oxfordshire and is  let
on  a 20 year lease to the Post Office.  Net rental income  is
expected to be £163,000, per annum.

These  investments  are  our  most  significant  to  date  and
represent a key step in enhancing our property portfolio.