Holding(s) in Company

Pacific Horizon Investment Tst PLC
06 May 2003

                      Pacific Horizon Investment Trust PLC

                        Disclosure of Interest in Shares



Pacific Horizon Investment Trust PLC has today been advised by BAE Systems
Pension Plan Trustees Limited that following a sale of 3,300,000 ordinary 10p
shares they no longer hold an interest in the Company.



                                                           Baillie Gifford & Co.

                                                          Managers & Secretaries

                                                                      6 May 2003


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