RNS No 0288x
JERSEY PHOENIX TRUST LIMITED
15th April 1998



LETTER TO: COMPANY ANNOUNCEMENTS OFFICE

NOTIFICATION OF MAJOR INTERESTS IN SHARES

We wish to inform you that we have today been advised by Aberdeen Asset Managers
of the following transactions carried out on the 9 April 1998:

1. Purchase for Abtrust New Preferred Income Investment Trust Plc of 
   1,350,000 Ordinary 10p Shares.

2. Sale for Aberdeen Preferred Income Investment Trust PLC of 1,350,000
   Ordinary 10p Shares.

Following the aggregation of both the new Ordinary Shares and the original
Ordinary Shares, the total holding of Ordinary Shares in this company under the
management of Aberdeen Asset Manasgers is 6,300,000 representing 21.50% of the
issued Shared Capital of this class of share.  We are further informed that the
shares are held as follows:

          Abtrust New Preferred Income Investment Trust PLC  
             Talbot Nominees Limited A/c 754850               2,500,000   8.53%
          Aberdeen High Income Investment Trust PLC
             Talbot Nominees Limited A/C 754700               3,000,000  10.24%
          Danae Investment Trust PLC
             Talbot Nominees Limited A/C 754900                 250,000   0.85%
          Jove Investment Trust PLC
             Talbot Nominees Limited A/C 754800                 400,000   1.37%
          Aberdeen Fund of Investment Trusts
             Talbot Nominees Limited A/C 750400                 150,000   1.51%
                                                             ----------  -----
                                                 Total        6,300,000  21.50%
                                                             ==========  ======

FROM: JERSEY PHOENIX TRUST LIMITED

END

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