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Independent Inv Tst (IIT)

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Wednesday 18 October, 2000

Independent Inv Tst

Re Admission to Official List

Independent Investment Trust PLC
18 October 2000


                     THE INDEPENDENT INVESTMENT TRUST PLC                     
                                                                              
                         (REGISTERED NUMBER SC210685)                         

THE DIRECTORS OF THE INDEPENDENT INVESTMENT TRUST PLC ANNOUNCED TODAY THAT
GROSS PROCEEDS OF £52,123,686 HAVE BEEN RECEIVED PURSUANT TO A PLACING OF
52,123,686  ORDINARY SHARES OF 25 PENCE EACH IN THE CAPITAL OF THE COMPANY. 
TOTAL EXPENSES RELATING TO THE PLACING (INCLUDING CASH COMMISSION OF 1%
PAYABLE TO PLACEES, AMOUNTING IN AGGREGATE TO £71,441.50 OR 0.14% OF GROSS
PLACING PROCEEDS) WILL NOT EXCEED 0.85% OF THE GROSS PLACING PROCEEDS.  IN
ADDITION, 449,794 ORDINARY SHARES HAVE BEEN ALLOCATED TO PLACEES, CREDITED AS
FULLY PAID, IN LIEU OF CASH COMMISSION.