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Independent Inv Tst (IIT)

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Friday 07 February, 2003

Independent Inv Tst

Holding(s) in Company

Independent Investment Trust PLC
07 February 2003

We have today been informed that on 6 February 2003 Willards Investments Limited
sold 1,979,600 ordinary 25p shares of The Independent Investment Trust PLC.

Willards Investments Limited has no remaining interest in The Independent
Investment Trust PLC.



                                                           Baillie Gifford & Co.

                                                                     Secretaries

                                                                 7 February 2003




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