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Progressive Inc Tst (~124)

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Monday 06 October, 2003

Progressive Inc Tst

Holding(s) in Company

Progressive Geared Income Trust PLC
06 October 2003


                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

1) Name of company

Progressive Geared Income Trust plc


2) Name of shareholder having a major interest
Leggmason Investors International Utilities Trust

3) Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or in respect of a
non-beneficial interest or in the case of an individual holder if it is a
holding of that person's spouse or children under the age of 18
The shareholder named in 2 above

4) Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them
HSBC Global Custody Nominees

5) Number of shares/amount of stock acquired
-

6) Percentage of issued class
-

7) Number of shares/amount of stock disposed
1,600,000

8) Percentage of issued class
3.56%

9) Class of security
Ordinary Shares

10) Date of transaction
2 September 2003

11) Date company informed
6 October 2003

12) Total holding following this notification
Nil


13) Total percentage holding of issued class following this notification
Nil

14) Any additional information
Following this disposal, Leggmason Investments (Europe) Limited have a non
beneficial interest as investment manager in 7,590,000 ordinary shares in
Progressive Geared Income Trust plc.


15) Name of contact and telephone number for queries
Anthony Lee 020 7490 4355

16) Name of authorised company official responsible for
making this notification
Anthony Lee

6 October 2003


                      This information is provided by RNS
            The company news service from the London Stock Exchange