Holding in Company

Electra Investment Trust PLC
6 November 2000

                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

ELECTRA INVESTMENT TRUST PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

THE EQUITABLE LIFE ASSURANCE SOCIETY

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

IN RESPECT OF SHAREHOLDER NAMED IN 2.

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

THE EQUITABLE LIFE ASSURANCE SOCIETY:                    4,450,880
NORTRUST NOMINEES LIMITED:                                   8,456
UNIVERSITY LIFE ASSURANCE SOCIETY:                           7,200
HSBC GLOBAL CUSTODY NOMINEE (UK) LIMITED A/C888569       1,262,820
                                                         5,729,356

5)   Number of shares/amount of stock acquired.

1,2632,820 - SEE 14.

6)   (1.57%) of issued Class

7)   Number of shares/amount of stock disposed

NIL

8)   ( N/A %) of issued Class

NIL

9)   Class of security

ORDINARY SHARES OF 25P EACH

10)  Date of transaction

3 NOVEMBER 2000

11)  Date company informed

6 NOVEMBER 2000

12)  Total holding following this notification

5,729,356 ORDINARY 25P SHARES
               
              
13)  Total percentage holding of issued class following this notification

7.11%

14)  Any additional information

INTEREST AROSE FOLLOWING TRANSFER OF SHARES FROM AN 'EQUITABLE UNIT TRUST' TO
FUND OF AN 'OPEN ENDED INVESTMENT COMPANY'


15)  Name of contact and telephone number for queries

P J DYKE, 020 7831 6464

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

     Date of Notification ...6 NOVEMBER 2000