Holding(s) in Company

Electra Investment Trust PLC
16 November 2004

                  ELECTRA INVESTMENT TRUST PLC ('the Company')


                                16 November 2004


             Section 198 Companies Act 1985 (as amended) Disclosure

Electra Investment Trust PLC announces that on 15 November 2004 it was advised
by Lehman Brothers International (Europe) that the interest of Lehman Brothers
International (Europe) in the Ordinary Shares of the Company had fallen below
3%.

Name of contact and telephone number for queries:

PJ Dyke, Company Secretary - 020 7 831 6464




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