47HA Investec 5%pf

RNS No 0076u
INVESTEC INVESTMENT TRUST PLC
26 July 1999


INVESTEC INVESTMENT TRUST PLC (formerly HAMBROS INVESTMENT TRUST PLC)

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 1999

                                                              1999        1998
                                                              #000        #000
Income from other fixes asset investments                      5           17

Investment losses                                             (91)        (10)

Administrative expenses                                        (8)         (4)

(Loss)/profit on ordinary activities before taxation          (94)          3

Tax on (loss)/profit on ordinary activities                   (10)        (12)

Loss on ordinary activities after taxation                    (104)        (9)

Dividends on preference stock                                  (44)       (44)

Retained loss for the financial year                          (148)       (53)

Assets
Net Assets                                                  29,666     29,814
Non Equity shareholders funds                               (1,645)    (1,645)

Ordinary shareholders funds                                 28,021     28,169


Notes

1. Investect Group investments (UK) Limited (formerly Hambro Group Investments
   Limited), a wholly-owned subsidiary of Investec Bank (UK) Limited, owns all
   of the ordinary shares of the company, #20,427 of the nominal 3.5 per cent
   cumulative preference stock and #17,718 of the nominal 5 per cent preference
   stock, in issue.  The issued #1,300,000 nominal 3.5 per cent and #345,438
   nominal 5 per cent cumulative preference stocks are listed on the London
   Stock Exchange.

   On 31st July 1998 the company's ulitimate holding company.  Hambros PLC was
   purchased by Investec Group Limited which is part of an international
   investment and private banking group based in the Republic of South Africa.
   On 25th September 1998, Hambros PLC re-registered as a private limited
   company and changed its name to Investec 1 Limited.  On 31st March 1999,
   Investec 1 Limited sold its indirect interest in the company to Investec Bank
   (UK) Limited.

2. Surplus liquidity arising from time to time was loaned by the company during 
   the year on an interest free basis to its immediate parent company.  Investec
   Group Investments (UK) Limited.  The loan is repayable on demand and the
   company has the right, at any time and at its sole discretion, to charge
   interest thereon at a commercial rate.

3. The current period tax charge represents surplus ACT written off.

4. No dividend is proposed in respect of the ordinary shares.

5. The above financial information is an abridged version of the company's full
   accounts which have not yet been filed with Registrar of Companies.

6. The report and Accounts will be posted to holders of preference of the
   company and copies are available, upon request, at the Registered Office of
   the company.

   Registered Office
   2 Gresham Street London EC2V 7QP

   Registered in England  No. 328206
   
END

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