Director Shareholding

Value & Income Trust PLC
2 November 2000


                                 SCHEDULE 11

         NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS


1)  Name of company
      Value and Income Trust plc


2)  Name of director
      Mrs Angela M Lascelles


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 or in 
    respect of a non-beneficial interest
      In respect of director in 2 above



4)  Name of the registered holder(s) and, if more than one holder, the
    number of shares held by each of them (if notified)
      Not disclosed


5)  Please state whether notification relates to a person(s) connected
    with the Director named in 2 above and identify the connected person(s)
      As in 2 above


6)  Please state the nature of the transaction. For PEP transactions
    please indicate whether general/single co PEP and if discretionary/non
    discretionary
      Purchase


7)  Number of shares/amount of
    stock acquired
      50,000


8)  Percentage of issued class
      -


9)  Number of shares/amount
    of stock disposed
      -


10) Percentage of issued class
      -


11) Class of security
      Ordinary 10p shares


12) Price per share
      125p


13) Date of transaction
      2 November 2000


14) Date company informed
      2 November 2000


15) Total holding following this notification



16) Total percentage holding of issued class following this notification



If a director has been granted options by the company please complete the
following boxes

17) Date of grant
      N/A


18) Period during which or date on which exercisable
      N/A


19) Total amount paid (if any) for grant of the option
      N/A


20) Description of shares or debentures involved: class, number
      N/A


21) Exercise price (if fixed at time of grant) or indication that price
    is to be fixed at time of exercise
      N/A


22) Total number of shares or debentures over which options held
    following this notification
      N/A


23) Any additional information



24) Name of contact and telephone number for queries
      David Holland 0131 313 6442


25) Name and signature of authorised company official responsible for
    making this notification
      David Holland


    Date of Notification.2 November 2000