Annual Report & Accounts

Lowland Investment Co PLC
16 November 2004

LOWLAND INVESTMENT COMPANY

HENDERSON GLOBAL INVESTORS

16 NOVEMBER 2004



                           LOWLAND INVESTMENT COMPANY


            Report and Accounts for the year ended 30 September 2004



A copy of the above document has been submitted to the UK Listing Authority and
will shortly be available for inspection at the UKLA's Document Viewing
Facility, which is situated at:

Document Disclosure Department
Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS

Tel: [phone]


                                    - ENDS -


For further information please contact :

James Henderson
Lowland Investment Company
Telephone : [phone]




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