Tender Offer Result

Investment Company PLC
11 April 2000


In response to its Tender Offer to purchase up to 5,135,079 of its
Participating Preference Shares at the fixed price of 100p per share, THE
INVESTMENT COMPANY PLC had received at the close of the offer yesterday 43
acceptances totalling 3,890,602 shares.  This included acceptance by New
Centurion Trust Limited, which is the Company's ultimate holding company, in
respect of all of its holding of 3,857,144 shares.

Following cancellation of the shares purchased under the Tender Offer,
7,009,805 Participating Preference Shares will remain in issue.