Disposal of Interest in Document Management Serv's

Electra Investment Trust PLC
1 February 2000


ELECTRA INVESTMENT TRUST ANNOUNCES THE DISPOSAL OF ITS
SHAREHOLDING IN DOCUMENT MANAGEMENT SERVICES LIMITED

Document Management Services Limited ('DMS'), which trades
as Tactica Solutions, supplier of document management
solutions to both the public and private sector, has been
sold for £38m cash to e-doc Group plc, a company financed by
PPM Ventures Limited.  DMS management will be retained to
drive the business forward.  e-doc Group will also take on
£22m of bank debt and other non-trading liabilities.
Gross proceeds attributable to Electra Investment Trust
('EIT') are £15.7m cash.  This disposal represents an uplift
in the Net Asset Value per EIT ordinary share of 2p over the
valuation of £13.3m on 30 September 1999. Proceeds from this
disposal will be used to reduce bank borrowings further.
The original cost of EIT's holding of ordinary shares was
£170,000.

DMS is one of the four independent companies created from
the demerger of The Stationery Office Group Ltd ('TSO
Group') on 1 April 1999.

EIT will continue to own 41.5 per cent of the issued share
capital of the two remaining TSO Group businesses - Security
Printing and Systems and Banner Business Supplies.  As at 30
September 1999 the aggregate value of these two
shareholdings was £11.6m.

Tim Syder, Director of Electra Partners Europe Limited,
commented, 'We are pleased to announce the continuation of
our disposal programme to honour our commitment to
shareholders.  The return on this investment is
demonstration of Electra's value added role in actively
managing the businesses with which it is involved.'

For further information:
Hugh Mumford        Electra Partners Europe Limited
Tim Syder           0171 831 6464

Alison Hogan        Brunswick Group Limited
Helen Precious      0171 404 5959

Notes
1. In September 1996 most of the activities of Her Majesty's
   Stationery Office were privatised by way of a management
   buy-in arranged by Electra Partners Europe.

2. Following the reorganisation of the TSO Group on 1 April
   1999, the other two independent businesses which are
   majority owned by funds under the management of Electra
   Partners Europe are:
  *  Security Printing and Systems (principal activity: high
     security printing)
  *  Banner Business Supplies (principal activity: office
     supplies)

3. PPM Ventures is one of the leading private equity firms
   in the UK.