Holding(s) in Company

SCHEDULE 10

                    NOTIFICATION OF MAJOR INTERESTS IN SHARES

1)   Name of company
     Value and Income Trust plc


2)   Name of shareholder having a major interest
     Legal & General Investment Management


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 2 above


4)   Name of the registered holder(s) and, if more than one holder, the
     number of shares held by each of them
     HSBC Global Custody Nominee (UK) Ltd a/c 775245 - 150,000 shares
     HSBC Global Custody Nominee (UK) Ltd a/c 357206 - 1,075,766 shares
     HSBC Global Custody Nominee (UK) Ltd a/c 747381 - 86,200 shares
     HSBC Global Custody Nominee (UK) Ltd a/c 866203 - 61,000 shares
     HSBC Global Custody Nominee (UK) Ltd a/c 360509 - 60,000 shares


5)   Number of shares/amount of stock acquired
     n/a


6)   Percentage of issued class
     n/a


7)   Number of shares/amount of stock disposed
     n/a


8)   Percentage of issued class
     n/a


9)   Class of security
     Ordinary


10)  Date of transaction
     not disclosed


11)  Date company informed
     9 December 2004


12)  Total holding following this notification
     1,432,966


13)  Total percentage holding of issued class following this notification
     3.14%


14)  Any additional information
     No


15)  Name of contact and telephone number for queries
     Robert Hoskin 0207 463 6322


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

     Date of notification 13 December 2004