Re-classification Doc. etc

ELECTRA INVESTMENT TRUST PLC
15 July 1999


            ELECTRA INVESTMENT TRUST P.L.C. ('ELECTRA')
           ---------------------------------------------

The Board of Electra has today filed with the London Stock
Exchange a Re-classification Document which records the change of
listing status for Electra, following its completion of the
acquisition of the remaining 50 per cent. interest in the Electra
Fleming Group, Electra's investment manager.  Due to this re-
classification, Electra's shares are now listed subject to and
governed by the rules set out in Chapter 3 of the Listing Rules of
the London Stock Exchange, rather than as an investment entity
under Chapter 21 of the Listing Rules.

The Board does not believe that the change of listing status will
have any significant effect on Electra's ongoing business.
However, Electra will no longer be able to rely on the exemptions
from certain obligations applicable under Chapter 3 of the Listing
Rules which were relevant when it was listed as a Chapter 21
investment entity.

Copies of the Re-classification Document are available from the
Company Announcements Office of the London Stock Exchange.