Portfolio Update

Lowland Investment Co PLC
03 October 2006


LOWLAND INVESTMENT COMPANY PLC

HENDERSON GLOBAL INVESTORS

3 OCTOBER 2006


                         LOWLAND INVESTMENT COMPANY PLC

                            Listing Rule 15.4.11 (2)

In accordance with paragraph 15.4.11 (2) of the Listing Rules, Lowland
Investment Company plc announces its ten largest investments as at 30 September
2006. There are no holdings with a value greater than 5% of gross assets.

Company
BP
Royal Dutch Shell
GlaxoSmithKline
Vodafone
McAlpine
Royal Bank of Scotland
Senior
Diageo
Laing
United Utilities


                                    - ENDS -


For further information, please call:

James Henderson
Fund Manager
Lowland Investment Company plc
Telephone: [phone]

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



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