Listing Rule 21

Lowland Investment Co PLC
04 April 2005


LOWLAND INVESTMENT COMPANY PLC

HENDERSON GLOBAL INVESTORS
4 April 2005


                         LOWLAND INVESTMENT COMPANY PLC

                                Listing Rule 21


In accordance with paragraph 21.20 (l) (ii) of the Listing Rules, Lowland
Investment Company plc announces its ten largest investments, including all
holdings with a value greater than 5% of its gross assets, as at 31 March 2005:


Company
BP
McAlpine (Alfred)
Lloyds TSB Group
Shell Transport & Trading
Senior
Renold
Carclo
GlaxoSmithKline
Johnson Service Group
HBOS


                                    - ENDS -


For further information, please call:

James Henderson
Lowland Investment Company plc
Telephone: [phone]

James de Sausmarez
Head of Investment Trusts
Henderson Global Investors
Telephone: [phone]



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