Holding in Company

Electra Investment Trust PLC
17 October 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

     16 OCTOBER 2001

12)  Total holding following this notification

     2,997,005 ORDINARY 25P SHARES
               
13)  Total percentage holding of issued class following this notification

     4.59%

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

     P.J. DYKE       020 7831 6464

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

     Date of Notification .....17 OCTOBER 2001...................