EGM Statement

Pacific Horizon Investment Tst PLC
25 April 2001

                         STOCK EXCHANGE ANNOUNCEMENT


             Pacific Horizon Investment Trust PLC (the 'Company')

        Reduction of the Share Premium Account and Buy-Back Authority

At an extraordinary general meeting of the Company held earlier today,
shareholders approved a special resolution to reduce the share premium account
of the Company, conditional on the confirmation of the High Court of Justice
in England and Wales, which is expected to take place on 23 May 2001.

The shareholders also approved a resolution authorising the Company to make
market purchases of up to 14.99 per cent of the Company's current issued share
capital, being 11,818,395 shares. Such authority is due to expire on 24
October 2002 unless previously varied, revoked or renewed. Purchases of shares
will only be made at prices which, after allowing for costs, will enhance the
net asset value of the Company.

Finally, shareholders approved an amendment to the articles of association of
the Company to permit the Company to distribute its capital profits for the
purpose of purchasing its own shares without losing investment company status.

Each of the resolutions noted above received shareholders approval conditional
on the passing of the respective extraordinary resolutions at the general
meeting of warrantholders of the Company, which also took place today. The
warrantholders sanctioned and consented to the passing and carrying into
effect of each of the special resolutions approved at the extraordinary
general meeting.



                                                                 25 April 2001