Britannic Global Income Trust

Terrace Hill Group PLC
01 September 2005


                             Terrace Hill Group plc

                       Britannic Global Income Trust PLC


Undernoted below for information purposes is a copy of extracts from an
announcement released yesterday by Britannic Global Income Trust PLC in relation
to the approval of the proposed scheme of arrangement by ZDP shareholders of
Britannic Global Income Securities plc and Ordinary shareholders and Creditors
of Britannic Global Income Trust plc.


END



                        BRITANNIC GLOBAL INCOME TRUST PLC

                     BRITANNIC GLOBAL INCOME SECURITIES PLC


                                 31 August 2005



The Board of Britannic Global Income Trust plc announces that proposals for a
scheme of arrangement under section 425 of the Companies Act 1985 were approved
by ZDP shareholders of Britannic Global Income Securities plc and Ordinary
shareholders and Creditors of Britannic Global Income Trust plc at Meetings held
today.


As set out in the circular posted to shareholders and creditors on 1 August
2005, it is expected that, subject to the sanction of the Court, the scheme of
arrangement will take effect from 11 October 2005.  Further announcements will
follow in due course.





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