Allotment of Shares

Lowland Investment Co PLC
07 December 2004


HENDERSON GLOBAL INVESTORS

LOWLAND INVESTMENT COMPANY PLC

7 DECEMBER 2004



                         LOWLAND INVESTMENT COMPANY PLC

The Company announces the allotment of 210,000 Ordinary Shares of 25p each fully
paid under its block listing facility.  The issued share capital is now
21,210,205.

These shares were issued for cash on 7 December 2004 at a price pf 663.5p per
share.  The net asset value per Ordinary Share at the close of business on 6
December 2004 was 632.6p.


                                    - ENDS -



For further information please contact:

James Henderson
Portfolio Manager
Lowland Investment Company PLC
Telephone: [phone]

Stephen Westwood
Head of Investment Trusts
Henderson Global Investors
Telephone: [phone]



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