Holding in Company

Foreign & Col. Pacific Inv Tst PLC
8 May 2001


                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     FOREIGN & COLONIAL PACIFIC INVESTMENT TRUST PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     AXA S.A.

3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

     SEE 14 BELOW

4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

     HSBC GLOBAL CUSTODY NOMINEE (UK) LTD (A/C 845315)        9,463
     HSBC GLOBAL CUSTODY NOMINEE (UK) LTD (A/C 776934)   10,246,808
     SMITH & WILLIAMSON NOMINEES LTD (A/C S66)               97,670
     RBSTB NOMINEES (A/C SUNPEN)                             51,200
     SUN LIFE INTERNATIONAL (A/C SLI11)                      25,852
                                                         10,430,993

5)   Number of shares/amount of stock acquired.

     N/A

6)   ( N/A %) of issued Class

7)   Number of shares/amount of stock disposed

     797,150

8)   ( 0.36% ) of issued Class

9)   Class of security

     ORDINARY SHARES OF 25p EACH

10)  Date of transaction

     NOT KNOWN

11)  Date company informed

     8TH MAY 2001

12)  Total holding following this notification

     10,430,993
               
              
13)  Total percentage holding of issued class following this notification

     4.74%

14)  Any additional information

     AXA S.A. HAS A MATERIAL INTEREST IN 10,421,530 SHARES AND A NON-MATERIAL   
     INTEREST IN 9,463 SHARES

15)  Name of contact and telephone number for queries

     MISS T.A. BENNETT
     TEL: [phone]

16)  Name and signature of authorised company official responsible for 
     making this notification

     Date of Notification 8TH MAY 2001