Posting of circular

Investment Company PLC
10 February 2005

                              THE INVESTMENT COMPANY PLC

                               ANNOUNCEMENT OF POSTING



The Investment Company plc ('the Company') announces that it is today posting a
circular to its shareholders convening an extraordinary general meeting of the
Company to be held on 7 March 2005 for the purpose of voting on, inter alia, its
proposed acquisition of the entire issued share capital of New Centurion Trust
Limited (the 'Acquisition'). Details of the Acquisition and related matters were
announced on 23 December 2004.



As announced, the consideration payable to the two equal shareholders in the
capital of New Centurion Trust Limited (the 'Sellers') was to comprise the issue
of new ordinary shares ('Consideration Shares') in the capital of the Company
and 5% unsecured loan notes of the Company ('Loan Notes') in amounts that would
reflect the relative net asset values of New Centurion Trust Limited and the
Company.



Those values have now been calculated, as at 31 December 2004, and the total
consideration payable to the Sellers will comprise the issue of a total of
849,372 Consideration Shares and £3,657,004 of Loan Notes (based on a Formula
Asset Value of £5,262,317 for New Centurion Trust Limited and a Formula Asset
Value of £1.89 per ordinary share in the capital of the Company as at 31
December 2004).  Based on the closing middle market price of an Ordinary Share
of 177.5p as at 9 February 2005, the latest practicable date prior to the
despatch of this document, the total consideration equates to £5,164,639.


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