Holding in Company

Foreign&Colonial Enterprise Tst PLC
25 July 2000

                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

FOREIGN & COLONIAL ENTERPRISE 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

SUN LIFE ASSURANCE SOCIETY PLC
SUN LIFE INTERNATIONAL (IOM) LTD
AXA EQUITY & LAW LIFE ASSURANCE SOCIETY PLC


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) LIMITED
776934 A/c (Sun Life Assurance Society Plc)
3,282,980 shares;

Sun Life International Isle of Man Limited
SLI 11 A/c (Sun Life International (IOM) Ltd)
8,200 shares;

AELLAS plc
(AXA Equity & Law Life Assurance Society plc)
2,383,326 shares. 

5)   Number of shares/amount of stock acquired.

n/a

6)   ( N/A %) of issued Class

7)   Number of shares/amount of stock disposed

Not advised

8)   ( N/A %) of issued Class

9)   Class of security

Ordinary Shares of 10 pence each

10)  Date of transaction

Not advised

11)  Date company informed

Letter dated 17/7/2000 received in this office on 25/7/2000


12)  Total holding following this notification

5,674,506
               
              
13)  Total percentage holding of issued class following this notification

6.03%

14)  Any additional information



15)  Name of contact and telephone number for queries

R.F. VALLANCE - tel: [phone] ext 2258

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

     Date of Notification ....................25TH JULY 2000..........