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Caledonia Inv PLC (CLDN)

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Tuesday 29 June, 2004

Caledonia Inv PLC

Results of Court hearings

Caledonia Investments PLC
29 June 2004

                           Results of Court hearings

The Board of Caledonia Investments plc ('Caledonia') is pleased to announce that
the Court approvals, necessary for the implementation of the company's elective
special dividend proposals, have been received today and the Court order
confirming Caledonia's reduction of capital is expected to become effective on
30 June 2004.

The special dividend will be paid on 2 July 2004 to those shareholders who have
validly elected to receive it.

Tim Ingram, Chief Executive of Caledonia, comments:

'We are delighted to bring this chapter in the history of the company to a
close.  The strong support of our shareholders enables us to concentrate on
pursuing our long term investment strategy which has consistently delivered
superior investment performance.'

                                                                    29 June 2004


  Tim Ingram, Chief Executive                       Tel: +44 (0)20 7802 8080

  College Hill                                      Tel: +44 (0)20 7457 2020
  Tony Friend
  Richard Pearson

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