Blocklisting Interim Review

Lowland Investment Co PLC
03 February 2006


                        BLOCKLISTING SIX MONTHLY RETURN

Information provided on this form must be typed or printed electronically.


To:  The FSA

Date: 03.02.2006


1. Name of applicant:

LOWLAND INVESTMENT COMPANY PLC


2. Name of scheme

HENDERSON INVESTMENT TRUST SHARE PLAN


3. Period of return:

From      1 AUGUST 2005                              To     31 JANUARY 2006


4. Balance under scheme from previous return:

426,621


5. The amount by which the block scheme has been increased, if the scheme has
been increased since the date of the last return

Nil


6. Number of securities issued/allotted under scheme during period:

Nil


7. Balance under scheme not yet issued/allotted at end of period

426,621


8. Number and class of securities originally listed and the date of admission

31,847 ORDINARY SHARES AS AT 5 MAY 1995
199,402 ORDINARY SHARES AS AT 29 AUGUST 2002
199,401 ORDINARY SHARES AS AT 30 AUGUST 2002


9. Total number of securities in issue at the end of the period

24,267,954 ordinary shares

Name of contact            Krista Burwood

Address of contact         Henderson Global Investors
                           4 Broadgate
                           London EC2M 2DA


Telephone number of contact             020 7818 2966



Signed by .........................................

For and on behalf of Henderson Secretarial Services Limited

Secretary to The City of London Investment Trust plc



If you knowingly or recklessly give false or misleading information you may be
liable to prosecution.


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