Blocklisting Interim Review

Lowland Investment Co PLC
03 February 2006


                        BLOCKLISTING SIX MONTHLY RETURN

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


To:  The FSA
Date: 03.02.2006



1. Name of applicant:


LOWLAND INVESTMENT COMPANY PLC



2. Name of scheme


GENERAL PURPOSE



3. Period of return:


From      1 AUGUST 2005                To     31 JANUARY 2006



4. Balance under scheme from previous return:


697,640



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


697,640



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


453,514 ORDINARY SHARES - 17 JANUARY 2003
496,277 ORDINARY SHARES - 7 JANUARY 2003
492,610 ORDINARY SHARES - 18 FEBRUARY 2003
355,239 ORDINARY SHARES - 5 NOVEMBER 2003
270,000 ORDINARY SHARES - 5 JANUARY 2005
260,000 ORDINARY SHARES - 10 MARCH 2005



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


24,267,954


Name of contact                       Krista Burwood


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 The City of London Investment Trust plc



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





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