Subsid's Investment

Highcroft Investment Trust PLC
14 August 2000

Letter to Company Announcements Office

Commercial Property Investment

On 14 August 2000 a subsidiary of Highcroft Investment Trust PLC, Rodenhurst
Estates Limited, completed the purchase for cash of an office property at a
purchase price of £1,600,000.  It comprises two inter-linked, modern office
units in Solihull, West Midlands.  The property is let to Siemens Properties
Limited, with a guarantee from Siemens Holdings Plc on a lease that runs to
2015.  Net rental income is expected to be £122,000 p.a.

This investment is a further step in implementing our policy of enhancing the
quality of our property portfolio.


Letter from Highcroft Investment Trust PLC