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Independent Inv Tst (IIT)

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Thursday 14 December, 2000

Independent Inv Tst

Holding in Company

Independent Investment Trust PLC
14 December 2000

Rossie House Investment Management has today informed us that they hold on
behalf of their discretionary clients a total of 1,592,770 Ordinary shares in
The Independent Investment Trust PLC.

This represents a holding of 3.03% of the current issued share capital of