APR Apr Energy

RNS No 1480m
ABERDEEN PREFERRED INCOME TRUST
ABERDEEN PREFERRED SECURITIES PLC
1 June 1999


ABERDEEN PREFERRED INCOME TRUST PLC ('ABPREF')
ABERDEEN PREFERRED SECURITIES PLC ('ABPREF SECURITIES')


Issue and Placing in connection with the recommended scheme
('Scheme') for the reconstruction of OLIM Convertible Trust
Plc
____________________________________________________________



1.   Issued share capital

     The listed issued share capital of Abpref and Abpref
     Securities following the Scheme and Placing will be:

     (a)  Abpref - ordinary shares of 10p each ('Ordinary
          Shares')
     
          Scheme                       2,948,137
          Placing                      8,119,080
          Existing issued            117,767,312
                                     -----------
          New total                  128,834,529
                                     ===========
     
     
     (b)  Abpref Securities - zero dividend preference
          shares of 5p each ('ZDP Shares')
     
          Scheme                         982,556
          Placing                      2,706,360
          Existing issued             36,654,875
                                     -----------
          New total                   40,343,791
                                     ===========
     
     
2.   Dealings and settlement

     Dealings in the new Ordinary Shares and new ZDP  Shares
     are expected to commence on 2 June 1999 in the case  of
     those issued pursuant to the Scheme and on 7 June  1999
     in the case of those issued pursuant to the Placing.

     CREST   accounts  are  expected  to  be  credited   and
     definitive  certificates to be despatched on  the  same
     respective dates.


3.   Total assets

     Including  an anticipated increase in bank  borrowings,
     total  assets  of  the  Abpref Group  are  expected  to
     increase  from approximately #364 million to over  #400
     million as a result of the Scheme and Placing.


Enquiries:

David Thomas, Brewin Dolphin Securities Limited (0171)246 1115
Chris Fishwick, Aberdeen Asset Managers Limited (0171)463 6000


END

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