Holding in Company

Electra Investment Trust PLC
7 November 2001

                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

ELECTRA INVESTMENT TRUST PLC


2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

DEUTSCHE BANK AG, LONDON


3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

SEE 14. BELOW


4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

NOT DISCLOSED


5)   Number of shares/amount of stock acquired.

NOT DISCLOSED


6)   ( NOT DISCLOSED%) of issued Class

7)   Number of shares/amount of stock disposed

NOT DISCLOSED


8)   ( NOT DISCLOSED%) of issued Class

9)   Class of security

ORDINARY 25P SHARES


10)  Date of transaction

NOT DISCLOSED


11)  Date company informed

6 NOVEMBER 2001


12)  Total holding following this notification

3,948,351 ORDINARY 25P SHARES

               
13)  Total percentage holding of issued class following this notification

6.05%


14)  Any additional information

DEUTSCHE BANK, AG ADVISE THAT PART OF HOLDING MAY RELATE TO HEDGING ARRANGEMENTS
FOR CUSTOMER TRANSACTIONS.


15)  Name of contact and telephone number for queries

P J DYKE,  020 7831 6464


16)  Name and signature of authorised company official responsible for 
     making this notification

     Date of Notification .....7 NOVEMBER 2001...................