Directors' Dealings

Henderson Strata Investments PLC
4 January 2000

                       DEALINGS BY DIRECTORS


1)  NAME OF COMPANY

          Henderson Strata Investments Plc

2)  NAME OF DIRECTOR

          Mr R D H Bryce

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

          Beneficial

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

          Bank of Scotland SP Nominees Limited

5)  Please state whether notification relates to a person(s) connected
    with the Director named in 2 above and identify the connected person(s)

          Mr Bryce himself

6)  Please state the nature of the transaction. For PEP transactions
    please indicate whether general/single co PEP and if discretionary/non
    discretionary

          Share purchase:  100% beneficial

7)  Number of shares/amount of
    stock acquired

          24

8)   (  % ) of issued Class

          Insignificant

9)  Number of shares/amount
    of stock disposed

          -

10)  (    % )
   of issued Class

          -

11) Class of security

          Ordinary 25p shares

12) Price per share

          945p

13) Date of transaction

          24.12.99

14) Date company informed

          04.01.2000

15) Total holding following this notification

          4,295

16) Total percentage holding of issued class following this notification

          0.02%

     IF A DIRECTOR HAS BEEN GRANTED OPTIONS BY THE COMPANY PLEASE
                    COMPLETE THE FOLLOWING BOXES

17) Date of grant



18) Period during which or date on which exercisable



19) Total amount paid (if any) for grant of the option



20) Description of shares or debentures involved: class, number.



21) Exercise price (if fixed at time of grant) or indication that price
    is to be fixed at time of exercise



22) Total number of shares or debentures over which options held
    following this notification



23) Any additional information

          Monthly share purchase through the Henderson Investors Investment
          Trust Share Plan

24) Name of contact and telephone number for queries

          G S Rice - 0171 410 4469
          
25) Name and signature of authorised company official responsible for
    making this notification

    Date of Notification..........4 January 2000