Dividend Declaration

Investment Company PLC
28 August 2003

The Investment Company plc

Participating Preference Shares of 50p

A dividend of 5.5p per Participating Preference share will be paid on 1st
October 2003 to shareholders on the register on 5th September 2003, the record
date.  The Participating Preference shares will be marked ex-dividend on 3rd
September 2003.

The dividend payment of 5.5p per Participating Preference share includes the
participating element of 2p per share as disclosed in the Report & Accounts for
the year ended 31 March 2003.


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