Holding in Company

Pacific Horizon Investment Tst PLC
20 September 2001

                     Pacific Horizon Investment Trust PLC

                  Notification of Major Interests in Shares


AXA Investment Managers have today informed us that they have an interest in
5,505,984 ordinary 10p shares in the Company, this represents 7.01% of the
issued share capital of 78,591,864.

                                                         Baillie Gifford & Co.

                                                        Managers & Secretaries

                                                             20 September 2001