Holding in Company

Glasgow Income Trust PLC
15 January 2001

                                 SCHEDULE 10

                  NOTIFICATION OF MAJOR INTERESTS IN SHARES

1) Name of company Glasgow Income Trust plc



2) Name of shareholder having a major interest

Glasgow Investment Managers Limited

3) Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or in respect of a
non-beneficial interest or in the case of an individual holder if it is a
holding of that person's spouse or children under the age of 18

Notification given as Managers of The Glasgow PEP and The Glasgow TrustPlan

4) Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them

The Glasgow PEP

State Street Nominees Ltd FE1P - 2,918,607

The Glasgow TrustPlan

Lloyds TSB Reg Savings Nominees Ltd - 2,378,261
Total = 5,296,868


5) Number of shares/amount of stock acquired



6) Percentage of issued class



7) Number of shares/amount of stock disposed



8) Percentage of issued class



9) Class of security

Ordinary 25p shares

10) Date of transaction

Not disclosed

11) Date company informed

8 January 2001

12) Total holding following this notification

5,296,868


13) Total percentage holding of issued class following this notification

17.06%

14) Any additional information



15) Name of contact and telephone number for queries

Fiona A McLean - 0141 572 2705

16) Name and signature of authorised company official responsible for
making this notification

Date of notification ....15 January.2001.....