47OZ Anglo Am. 21s

RNS Number:0148M
Five Arrows Chile Inv Tst Ld
9 June 2000


             The Five Arrows Chile Investment Trust Limited (the Company)


Notification of first interim distribution

On 28 April 2000 it was announced that, following the lapse of the proposed
scheme of reconstruction of the Company, the Directors had commenced the
liquidation of the Company. At that time, the Directors stated that they
anticipated that a first interim distribution to shareholders would be made by
the joint liquidators in June 2000.

The joint liquidators of the Company, Jeremy Spratt and Stephen Treharne of
KPMG are pleased to announce that they anticipate declaring a first interim
distribution of US$0.70 per US$0.65 Ordinary Share on or about the 16 June
2000, with distribution cheques being issued to shareholders in the week
commencing 26 June 2000. The distribution will be made to all holders of
Ordinary Shares. The Convertible Unsecured Loan Stock ("CULS") was converted
into Ordinary Shares on or before 8 June 2000 in accordance with the terms of
the CULS Trust Deed at the rate of one US$0.65 Ordinary Share per unit of CULS
held.

The joint liquidators note that over 50% of the Company's portfolio of shares
and securities has now been realised and that the realisation of the portfolio
continues to proceed in an orderly fashion.

The timing and quantum of future distributions is dependent, inter alia, on
the progress of the share disposal process, the remittance of the proceeds
from Chile (which is subject to Chilean Regulatory approvals) and obtaining
the necessary UK tax clearances with respect to the Company's Investment Trust
status. Nevertheless, it is presently anticipated that a second interim
distribution will be made to the shareholders of the Company in July 2000 of
approximately US$0.40 per share and that one or more further distributions
will be declared later in 2000. At this stage it is not possible to state with
any degree of certainty when the liquidation will be completed.


For The Five Arrows Chile Investment Trust Ltd by its Secretary Rothschild
Asset Management Limited.


END
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