Proposed Share Issue

Lowland Investment Co PLC
13 April 2007

HENDERSON GLOBAL INVESTORS

LOWLAND INVESTMENT COMPANY PLC

13 APRIL 2007



                          Proposed Issue of New Shares



The Board is today recommending proposals for an issue of New Shares to electing
holders of loan notes in Greene King Acquisitions (No.3) Limited and convening
an Extraordinary General Meeting of the Company.



A circular setting out the details of the GKA Proposals and the Board's
recommendation that Shareholders vote in favour of the resolution required to
implement them will be despatched to Shareholders today.



Expected timetable



Latest time and date for receipt of Forms of Proxy        11.00 am 7 May 2007



Extraordinary General Meeting                             11.00 am 9 May 2007



Dealings in New Shares issued under the GKA Proposals     8.00 am 23 May 2007



New Shares issued under the GKA Proposals issued          by 25 May 2007
in certificated form



Terms used in this announcement shall, unless the context requires otherwise,
bear the same meaning given to them in the Company's circular to shareholders
dated 13 April 2007.



Copies of the circular and the prospectus have been submitted to the UK Listing
Authority and will be shortly available for inspection at the UK Listing
Authority's Document Viewing Facility which is situated at:



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


                                    - END -

Enquires:
James de Sausmarez                                James Henderson
Head of Investment Trusts                         Lowland Investment Company plc
Henderson Global Investors                        020 7818 4370
020 7818 3349

Melville Trimble
PricewaterhouseCoopers LLP
020 7213 8898




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