Re Investment Policy

Lowland Investment Co PLC
13 October 2003



LOWLAND INVESTMENT COMPANY PLC

HENDERSON GLOBAL INVESTORS

13 OCTOBER 2003

                         Lowland Investment Company plc

                               Investment Policy


The Board of Lowland Investment Company plc notes the publication of the
Investment Entities (Listing Rules and Conduct of Business) Instrument 2003 and
announces that it is the Company's policy to invest no more than 15% of its
gross assets in other listed investment companies (including listed investment
trusts).

                                    - ENDS -


For further information, please call:


James Henderson

Lowland Investment Company plc

Telephone: [phone]


Stephen Westwood

Head of Investment Trusts

Henderson Global Investors

Telephone: [phone]


Stephen Phillips

Associate Director

Henderson Global Investors

Telephone: [phone]



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