Re New Zealand Listing

Caledonia Investments PLC
19 October 2004


Proposed New Zealand Listing


Caledonia Investments plc ('Caledonia') announces that it has applied to the New
Zealand Stock Exchange ('NZX') to obtain a listing as an overseas listed issuer
of its ordinary shares.  If the listing is granted, investors in New Zealand
will be able to buy and sell Caledonia ordinary shares through NZX at a price
quoted in New Zealand dollars. Accordingly it will no longer be necessary for
them to transact through the London Stock Exchange.

Caledonia's listing on the London Stock Exchange will be unaffected by the
above.

Commenting on the announcement, Tim Ingram, Caledonia's Chief Executive, said:

'A listing in New Zealand will raise Caledonia's visibility in a market which
has a significant number of retail investors and in which the investment trust
industry is well established.  This is an exciting opportunity for the company
to access potential new investors for whom our proven investment policy of
capital growth over the medium to longer term, combined with a progressive
dividend policy, is attractive.'

                                                                 19 October 2004



NOTE : The following statement is included in accordance with the rules of NZX :
Application has been made to NZX for permission to list the securities and all
the requirements of NZX relating thereto that can be complied with on or before
the date of the advertisement have been duly complied with. However, NZX accepts
no responsibility for any statement in this advertisement.

For more information on Caledonia, please access the website at 
www.caledonia.com.



Enquiries:

Caledonia Investments plc                       020 7802 8080
    Tim Ingram, Chief Executive
    Jonathan Cartwright, Financial Director

College Hill                                    020 7457 2020
    Tony Friend
    Richard Pearson
    Angela Spain


                      This information is provided by RNS
            The company news service from the London Stock Exchange