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Johnson Fry Inc&Grth (LIG)

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Friday 12 May, 2000

Johnson Fry Inc&Grth

Substantial Shareholding

Johnson Fry Income & Growth Tst PLC
12 May 2000


The Company has today been notified that following a purchase of 250,000
ordinary shares of 25p on 11 May 2000, discretionary funds under the
management of Exeter Asset Management Limited now have an interest in
5,600,000 ordinary shares of 25p each, representing 7.18% of the issued class
of capital.

Clients of Exeter Asset Management Limited have the following interests:

Fund                                     Ordinary shares    % of share capital

Dartmoor Investment Trust plc            2,000,000          2.57%

Exeter Equity Growth & Income Fund Ltd   1,500,000          1.92%

Exeter High Income Unit Trust            1,000,000          1.28%

Exeter Enhanced Income Fund                850,000          1.09%

Exeter Equity Fund                         250,000          0.32%