London Forfaiting Co - Holdings in Company

RNS No 9288w
LONDON FORFAITING COMPANY PLC
22 July 1999

LETTER TO: LONDON FORFAITING CO PLC

40p ORDINARY SHARES ("SHARES")

We write to advise you that we, Schroder Investment Management Limited, have an
interest in 11,525,792 shares which are held in portfolios managed by us on a
discretionary basis for clients under investment management agreements.

Included in this figure are:-

(i)  10,000 shares registered or to be registered in the the name of our
     wholly-owned subsidiary nominee company, Schroder Nominees Limited
     (Schroder Nominees),

(ii) 8,785,000 shares held in (a) unit trust(s) operated and managed by another
     wholly-owned subsidiary, Schroder Unit Trusts Limited (SUTL), and
     registered or to be registered in the name of Popeshead Nominees Limited
     (Popeshead), and

(iii) 2,725,000 shares neither registered nor to be registered in the name of
      Royal Bank of Scotland Edinburgh Nominees Limited A/C: GUD2.

(iv)  5,792 shares registered or to be registered in the name of Chase Manhattan
      Nominees Limited.

We believe that we and our subsidiary companies are therefore interested in an
overall aggregate of 11,525,792 shares, representing some 10.999% of the total
number of shares in issue, namely 104,780,000 shares.

This Notification is made to you:-

(a) in respect of our interest as investment managers and also by virtue of the
    fact that we are the parent company of SUTL,

(b) on behalf of SUTL in relation to the interests it is treated as having 
    repectively under the Companies Act 1985 (the Act), and

(c) on behalf of Schroders plc., our holding company, which is treated as having
    an interest in all of the above shares under the Act by virtue of its
    ownership of ourselves.

LETTER FROM: Paul Martin
             (Compliance Manager)
             SCHRODERS
END

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