Purchase of Own Securities

Foreign & Col. Pacific Inv Tst PLC
23 May 2000


         FOREIGN & COLONIAL PACIFIC INVESTMENT TRUST PLC

Please note that Foreign & Colonial Pacific Investment Trust PLC today purchased
for cancellation 4,300,000 ordinary shares in the market at a price of 164p per
share.

Following this purchase, the total number of ordinary shares in issue stands at
219,915,920.