Holding in Company

Electra Investment Trust PLC
4 August 2000

                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     ELECTRA INVESTMENT TRUST PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     CGNU PLC

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. ABOVE

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

     CHASE GA GROUP NOMINEES LTD:          25,000
     CUIM NOMINEES LIMITED:               345,423
     NORWICH UNION INSURANCE LTD:         191,270
     UNKNOWN:                           1,911,804
                                        ---------
                                        2,473,997

5)   Number of shares/amount of stock acquired.

     SEE 14 BELOW

6)   (SEE 14 BELOW %) of issued Class

7)   Number of shares/amount of stock disposed

     SEE 14 BELOW

8)   ( SEE 14 BELOW %) of issued Class

9)   Class of security

     ORDINARY SHARES OF 25p EACH

10)  Date of transaction

     SEE 14 BELOW

11)  Date company informed

     3 AUGUST 2000

12)  Total holding following this notification

     2,473,997 ORDINARY 25p SHARES
              
13)  Total percentage holding of issued class following this notification

     3.1%

14)  Any additional information

     DISCLOSURE MADE AS A RESULT OF AGGREGATION OF SUBSIDIARY HOLDINGS

15)  Name of contact and telephone number for queries

     KAY ROONEY - 020-7831-6464

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


     Date of Notification ....4th AUGUST 2000............