Result of EGM

Electra Investment Trust PLC
21 June 2000

                  ELECTRA INVESTMENT TRUST P.L.C. ('ELECTRA')
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                 RESULT OF EXTRAORDINARY GENERAL MEETING (EGM)
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Electra announces that, at its EGM held today, the Special Resolution set out
in the circular to shareholders dated 25 May, 2000 authorising the tender
offer for up to GBP 250 million of Electra's share capital was duly passed.

The timetable for completion
of the tender offer is:

Latest time and date for receipt of
Tender Forms and Fleming Investment
Trust Share Plan Tender Forms:                    3.00 p.m. on 27 June

Record Date for Tender Offer              close of business on 27 June

Calculation Date for Tender Price                              27 June

Tender Offer trade date and result of
Tender Offer announced                                          4 July

Settlement Date: cheques despatched and
assured payments through CREST made                            11 July


Enquiries:
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Electra                       020 7831 6464
Brian Williamson (Chairman)

Brunswick                     020 7404 5959
Stephen Breslin