Framlington Fin&Inc

Purchase of Own Securities

Framlington Global Fin&Inc Secs Ltd
16 July 2002

Framlington Global Financial & Income Securities Limited

At the Extraordinary General Meeting of the Company held on 23 May 2002,
shareholders granted the Company authority to purchase up to 1,499,000 zero
dividend preference shares.

The Company announces that it has today repurchased a further 25,000 zero
dividend preference shares at a price of 45p per share.

Following cancellation of the shares repurchased, the number of zero dividend
preference shares in issue will fall to 8,700,000.

The number of zero dividend preference shares which may be repurchased under the
current authority has fallen to 199,000.

16 July 2002

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