Final Results

LONDON FINANCE & INVESTMENT GROUP PLC
25 August 1999




                    London Finance & Investment Group P.L.C.

 Preliminary announcement of unaudited results for the year ended 30th June 1999


The  consolidated  profit, before tax was £208,000 for the  year  compared  with
£166,000 for the six months to 30th June 1998.  After a tax credit, arising from
the  release  of a prior year provision which has now been agreed, and  minority
interests, earnings attributable to members of the Company were £427,000  (1.67p
per share), compared with £183,000 (0.72p per share) for the period to 30th June
1998.  After providing for the dividend of 1.0p per share for the year (0.5p per
share for the six months to 30th June 1998), the retained profit for the year is
£172,000.

At  30th  June  1999,  the  net assets attributable to  shareholders,  including
investments  at market value, before providing for any tax that might  arise  on
realisation  of  investments, were £9,137,000 (1998 -  £12,074,000).   This  was
equal  to 35.80p per share (1998 - 47.31p).  The reason for the decline  in  our
net  assets  per  share  was  the fall in market value  of  our  investments  in
Marylebone  Warwick Balfour, Megalomedia and Western Selection.   At  30th  June
1999,  these  three investments had a market value of £4,236,000  compared  with
£7,078,000 a year earlier. However, since the year end the market value of these
investments  has  risen  over 20% to £5,148,000 and at 15th  August  1999  our
Group's net asset value, per share, was 40.02p compared to 35.80p at 30th June
1999.

Our current asset portfolio, which had a market value of £5,480,000 at 30th June
1999  (1998  £4,946,000),  is  mainly invested  in  large  international  listed
equities.

Outlook

The  current year has started well and market conditions generally appear fairly
stable.   Provided interest rates are not raised to try to constrain speculation
in  asset  prices,  we think we can be confident that well run  businesses  will
prosper over the next year or so.
        
We  remain confident about the prospects for our business and intend to continue
our policy of steady growth over the long term.



Unaudited  Consolidated  Profit  &  Loss     Year         Six months
Account                                      Ended             ended
                                         30th June         30th June 
                                              1999         1998
                                              £000         £000
                                                               
Operating income                               772          373
                                                               
Operating profit on ordinary activities        135           92
before taxation
Share of result of associated                  147          124
undertaking
Interest payable                              (74)         (50)
                                                               
Profit on ordinary activities before           208          166
taxation
Taxation                                       209           19
                                             
                                                               
Profit after taxation                          417          185
Minority interests                              10          (2)
                                                               
Profit attributable to members of              427          183
holding company
                                                               
Dividend  (Note 1)                           (255)        (128)
                                                               
Retained profit for the financial year         172           55
                                                               
Earnings per share  (Note 2)                 1.67p        0.72p
                                                               
Dividend per share (net)                     1.00p        0.50p
                                                               
Net assets per share                        35.80p       47.31p

There is no difference in either period between the above profit and the profit
on an historical cost basis.
The Group had no discontinued operations in either period.
There were no other recognised gains or losses in the year.


Unaudited abridged Consolidated Balance Sheet
at 30th June                                 1999           1998
                                             £000           £000
Fixed Assets                                                    
  Tangible assets                             505            511
  Investments                               5,812          6,424
                                            6,317          6,935
Current Assets                                                  
  Listed investments                        3,724          2,991
  Unlisted investments                         54             43
  Debtors                                     222            185
  Bank balances and deposits                   95             30
                                            4,095          3,249
Creditors: falling due within one year    (1,736)        (1,662)
                                                                
Net current assets                          2,359          1,587
                                                                
Total Assets less Current Liabilities       8,676          8,522
                                                                
Provision for liabilities and charges                           
  Deferred taxation                             -            (8)
                                                                
                                            8,676          8,514
Capital and Reserves                                            
Called up share capital                     1,276          1,276
Share premium account                         956            956
Reserves                                      361            361
Profit and loss account                     6,031          5,859
                                                                
Equity shareholders' funds                  8,624          8,452
Minority equity interests                      52             62
                                            8,676          8,514


Analysis of Net Assets  (Note 3)         30th June     30th June
                                              1999          1998
                                              £000          £000
                                                                
Tangible fixed assets                          505           511
Principal fixed asset investments at                            
market value
   Western Selection P.L.C.                  1,502         2,375
   Megalomedia plc                             810         1,801
   Marylebone Warwick Balfour Group Plc      1,924         2,902
   Creston Land & Estates plc                  218           190
   Consolidated Metallurgical Industries         -           623
   Limited
Current assets                                                  
   General equity portfolio                  5,480         4,946
   Cash, bank balances and deposits             95            30
                                                                
   Total assets                             10,534        13,378
                                                                
   Bank overdraft                          (1,150)       (1,100)
   Other, net liabilities                    (195)         (142)
   Minority interests                         (52)          (62)
                                                                
Net assets attributable to shareholders      9,137        12,074
(Note 3)

Notes

1  The  dividend for the year of 1.0p per share (1998 six month period -  0.50p)
   will  be  paid  on 29th October 1999 to shareholders on the register  on  1st
   October 1999.

2  Earnings  per  share  are  based on the result of ordinary  activities  after
   taxation  and minority interests and on 25,520,274 (1998 - 25,448,245)  being
   the weighted average of the number of shares in issue during the year.

3  The  net  assets attributable to shareholders, taking investments  at  market
   value, are before providing for any tax that may arise on realisation

4  The  financial  information  in this preliminary  announcement  of  unaudited
   group  results, which has been reviewed and agreed by the auditors, does  not
   constitute  statutory accounts within the meaning of section  240(5)  of  the
   Companies Act 1985.  The audited accounts of the group for the period ended
   30th June 1998 have been reported on with an unqualified audit report in 
   accordance with section 235 of the Companies Act 1985.