Result of Tender Offer

Henderson Strata Investments PLC
28 January 2005

NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR
FRANCE

HENDERSON GLOBAL INVESTORS


HENDERSON STRATA INVESTMENTS PLC


 28 January 2005

                        HENDERSON STRATA INVESTMENTS PLC


     Announcement of the results of the Tender Offer and Matching Facility



Further to the announcement made on 27 January 2005, the Board of Henderson
Strata Investments plc  is pleased to announce the results of the Tender Offer
and Matching Facility. Terms used in this announcement bear the meanings given
to them in the circular to shareholders dated 22 December 2004.



The Tender Offer and Matching Facility has now become unconditional. The Net
Asset Value at the Calculation Date (the close of business on 27 January 2005)
was 517.2494p per Share. The Repurchase Price is 475.87p per Share.


The result of the Tender Offer was as follows:


Total number of Shares in issue as at the Record Date: 17,101,515


Total number of Shares validly tendered under the Tender Offer:  4,593,057

Total number of Shares validly purchased under the Matching Facility:  9,802


All valid tender and purchase instructions will be satisfied in full.


Following settlement of the Tender Offer, which is expected to be completed by 2
February 2005, there will be 12,518,260 Shares in issue (approximately 73.2 per
cent. of the current issued share capital of the Company).


 Expected timetable


                                                                            2005
Settlement through CREST and despatch of cheques for               by 2 February
the Tender Offer and Matching Facility

Despatch balance certificates in respect of unsold                 by 7 February
Shares and Shares acquired under the Matching Facility

Annual General Meeting                                  2.00 p.m. on 10 February



Enquiries:

Richard Smith - Henderson Strata Investments plc                  0207 818 4368

Jane Lewis - Henderson Global Investors                           0207 818 6756

Angus Gordon Lennox - Cazenove & Co. Ltd                          0207 588 2828

Vicki Staveacre - Henderson Global Investors Press Office         0207 818 4222

                                                       [e-mail]





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