Holding in Company

Electra Investment Trust PLC
5 September 2001


                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

ELECTRA INVESTMENT TRUST PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

DEUTSCHE BANK AG, LONDON

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

SEE 14. BELOW

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

NOT DISCLOSED

5)   Number of shares/amount of stock acquired.

NOT DISCLOSED

6)   ( NOT DISCLOSED %) of issued Class


7)   Number of shares/amount of stock disposed

NOT DISCLOSED

8)   ( NOT DISCLOSED %) of issued Class

9)   Class of security

ORDINARY 25P SHARES

10)  Date of transaction

NOT DISCLOSED

11)  Date company informed

4 SEPTEMBER 2001

12)  Total holding following this notification

2,006,368 ORDINARY 25P SHARES
               
13)  Total percentage holding of issued class following this notification

3.07%

14)  Any additional information

DEUTSCHE BANK AG ADVISE THAT PART OF HOLDING MAY RELATE TO HEDGING ARRANGEMENTS 
FOR CUSTOMER TRANSACTIONS

15)  Name of contact and telephone number for queries

PJ DYKE, 020 7 831 6464

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

     Date of Notification ...5 SEPTEMBER 2001..............