Disposal

ELECTRA INVESTMENT TRUST PLC
29 September 1999



    Electra and SLD Holdings announce sale of SLD's Plant
           Hire division for £60 million

Electra Investment Trust plc ('EIT') and SLD Holdings Limited ('SLD') today
announce the sale of SLD's plant hire division for a gross price of £60
million to Longville Group Limited ('Longville').  Longville is a new company
established by Eric Hook (formerly Chief Executive of Andrews Sykes plc) and
NatWest Equity Partners.

EIT will receive £30 million in cash as a result of the repayment of loans,
the redemption of preference shares and the payment of accrued income by SLD.
EIT will continue to own 56.3 per cent of the issued share capital of SLD.

As at 31 March 1999 (and 31 May 1999), EIT valued its investment in SLD at
£35.2 million.  This valuation represents an uplift of £9.5 million over cost.
As a result of the payments received by EIT from the proceeds of this
disposal, the net valuation of EIT's residual holding of SLD Ordinary shares
is £12.2 million as at today's date.  This transaction will result in no
change in EIT's Net Asset Value per share from the previously uplifted
valuation from cost.  The proceeds from the sale will be used to reduce bank
borrowings further.

EIT made the investment in December 1993 when funds under the management of
Electra Managers Limited bought SLD, a diverse group of companies, from Hanson
plc.  SLD's plant hire division generates over 50 per cent of SLD's operating
profit.


For further information:

Tim Syder       Electra Managers Limited  0171 831 6464
Rhian Davies

Alison Hogan    Brunswick                 0171 404 5959
Helen Precious



NOTES TO EDITORS

Electra Managers

Electra Managers is an international investment management group specialising
in private equity.  All references to Electra Managers refer to Electra
Managers acting on behalf of funds under its management, of which EIT is the
principal client.