Holding in Company

Foreign & Col. Pacific Inv Tst PLC
14 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                        9,463
(a/c 845315)

HSBC Global Custody Nominee (UK) Ltd                    6,028,728
(a/c 776934)

Smith & Williamson Nominees Ltd                            97,670
(a/c S66)

RBSTB Nominees                                             51,200
(a/c Sunpen)

Sun Life International                                     25,852
(a/c SLI11)

                                                        6,212,913


5)   Number of shares/amount of stock acquired.

N/A

6)   ( N/A %) of issued Class

7)   Number of shares/amount of stock disposed

4,218,080

8)   ( 1.92% ) of issued Class

9)   Class of security

ORDINARY SHARES OF 25P EACH

10)  Date of transaction

NOT KNOWN

11)  Date company informed

14TH MAY 2001

12)  Total holding following this notification

6,212,913
               
              
13)  Total percentage holding of issued class following this notification

2.83%

14)  Any additional information

AXA S.A. HAS A MATERIAL INTEREST IN 6,203,450 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         14TH MAY 2001