Blocklisting Interim Review

Lowland Investment Co PLC
31 January 2007



                        BLOCKLISTING SIX MONTHLY RETURN

Information provided on this form must be typed or printed electronically.



To:  The FSA

Date: 31.01.2007



1. Name of applicant:


LOWLAND INVESTMENT COMPANY PLC



2. Name of scheme


HENDERSON GLOBAL INVESTORS MANAGED PEPS



3. Period of return:


From      1 AUGUST 2006                              To     31 JANUARY 2007



4. Balance under scheme from previous return:


766,820



5. The amount by which the block scheme has been increased, if the scheme has
been increased since the date of the last return


Nil



6. Number of securities issued/allotted under scheme during period:


Nil



7. Balance under scheme not yet issued/allotted at end of period


766,820



8. Number and class of securities originally listed and the date of admission


31,249 ORDINARY SHARES AS AT 28 APRIL 1995

289,855 ORDINARY SHARES AS AT 25 AUGUST 1995

284,090 ORDINARY SHARES AS AT 13 MARCH 1996

199,401 ORDINARY SHARES AS AT 29 AUGUST 2002

199,402 ORDINARY SHARES AS AT 30 AUGUST 2002



9. Total number of securities in issue at the end of the period


24,267,954 ordinary shares


Name of contact            Ruth Saunders


Address of contact         Henderson Global Investors
                           4 Broadgate
                           London EC2M 2DA


Telephone number of contact             020 7818 2966



Signed by .........................................

For and on behalf of Henderson Secretarial Services Limited

Secretary to Lowland Investment Company plc



If you knowingly or recklessly give false or misleading information you may be
liable to prosecution.


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