Holding in Company

Piccadilly Growth Trust Plc
24 May 2001


                         Piccadilly Growth Trust PLC



The Company announces that, following the admission of 2,505,412 Ordinary
shares of 1p to the London Stock Exchange on 22 May 2001, BFS Absolute Return
Trust Ltd, whose holding in the Company remains unchanged at 1,410,000 shares,
now hold 13.12% of the issued share capital of the Company.


24 May 2001