Holding(s) in Company

Pacific Horizon Investment Tst PLC
30 January 2003


                      Pacific Horizon Investment Trust PLC

                        Disclosure of Interest in Shares


Pacific Horizon Investment Trust PLC has today been advised that following a
sale of 800,000 ordinary 10p shares, BAE Systems Pension Plan Trustees Limited
now holds 3,800,000 ordinary shares in the Company, which equates to 4.97% of
the issued share capital.

                                                           Baillie Gifford & Co.
                                                          Managers & Secretaries
                                                                 30 January 2003


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