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Jersey Phoenix Tst (JPT)

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Monday 09 October, 2000

Jersey Phoenix Tst

Holding in Company

Jersey Phoenix Trust Ld
9 October 2000


Letter to Company Announcements Office

NOTIFICATION OF MAJOR INTEREST IN ORDINARY 10p SHARES

We write to inform you that we were notified today of a sale on 4 October 2000
of 703,000 Ordinary 10p shares by AIB Govett Asset Management Limited on behalf
of Govett High Income Investment Trust Plc.

As a result of this sale the total number of Ordinary 10p shares under the
management of AIB Govett Asset Management Ltd amounts to 3,347,000 shares,
representing 10.16% of the issued ordinary share capital.

Letter from Jersey Phoenix Trust Limited