APR Apr Energy

RNS No 2387n
OLIM CONVERTIBLE TRUST PLC
26 April 1999

       OLIM Convertible Trust PLC (the "Company")
       ------------------------------------------

The Company is in discussions with Aberdeen Preferred
Income Trust Plc ("Abref") which may lead to a
reconstruction of the Company under which shareholders
would have the opportunity to transfer their investment
into securities issued by Abref, as an alternative to
receiving cash in the liquidation of the Company due on
28 May 1999.

It is expected that a further announcement will be made
within 72 hours.

Enquiries:
Howard Myles
Warburg Dillon Read                Tel: 0171 568 2140

END

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