Purchase of Own Securities

Pacific Horizon Investment Tst PLC
16 October 2001

                     Pacific Horizon Investment Trust PLC

                          Purchase of Own Securities

The Company has today purchased for cancellation 1,500,000 ordinary shares at
a price of 32.00p, bringing the total number of shares bought back to
1,850,000.

There remain 76,991,864 ordinary shares in issue.



                                                         Baillie Gifford & Co.

                                                           Company Secretaries

                                                               16 October 2001