Dividend Declaration

SHIRES INCOME PLC
2 September 1999


                       Shires Income plc
                    First Interim Dividend
                               
The Board of Shires Income plc has declared a first interim
dividend of 4.3p per share in respect of the year to 31 March
2000 (first interim 1999 4.2p) payable on 29 October 1999 to
shareholders on the register at close of business on 8 October
1999.

Shires Income plc is managed by Glasgow Investment Managers
Limited.