Ten Largest Investments

Investment Company PLC
20 January 2006





The Investment Company plc



Ten Largest Investments



The Investment Company plc announces that, as at 31st December 2005, its ten
largest investments were as follows:





Investments over 5% of total assets


     Stock                                                                Shares             % of portfolio

1.   Delta
     4.5% 2nd cum pref £1                                              1,035,580
     6% 1st cum pref £1                                                  387,047                       8.35

2.   Whitbread Hotel Co
     4.5% 'A' cum pref £1                                                546,640
     6.5% 'A' cum pref £1                                                496,037
     7% cum pref £1                                                       86,738                       7.62

3.   REA Holdings
     9% cum pref £1                                                      960,009                       7.20




Investments under 5% of total assets


      Stock                                                              Shares             % of portfolio

4.    Equitable Life Finance
      8% sub gtd bonds 2049                                             600,000                       4.06

5.    Peninsular & Oriental Steam

      Navigation Co
      5% cum pref stock                                                 514,151
      5.5% non-cum pref £1                                              150,000                       3.91

6.    Coats International
      6% red pref stock £1                                              624,347                       3.87

7.    Fishguard & Rosslare Railways &
      Harbour Co
      3.5% gtd pref stock £1                                            775,999                       3.66

8.    Dunlop Plantations
      6% cum pref £1                                                    488,493                       2.83

9.    Fiske                                                             455,000                       2.81
      Ordinary 25p

10.   Amalgamated Metal
      5.4% cum pref stock £1                                            256,065
      6% cum pref £1                                                    213,510                       2.75

      Total                                                                                          47.06




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