Holding(s) in Company

Value & Income Trust PLC
18 February 2002

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

1) Name of company
Value and Income Trust plc


2) Name of shareholder having a major interest
The Equitable Life Assurance Society


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
On behalf of 2 above


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
n/a


6) Percentage of issued class
n/a


7) Number of shares/amount of stock disposed
1,740,000


8) Percentage of issued class
3.8%


9) Class of security
ordinary shares


10) Date of transaction
Not disclosed


11) Date company informed
18/2/02


12) Total holding following this notification
Nil



13) Total percentage holding of issued class following this notification
Nil


14) Any additional information
n/a


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


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

Date of notification 18 February 2002



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