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Olim Conv.Trust. (68NU)

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Wednesday 08 September, 1999

Olim Conv.Trust.

Final Distribution

OLIM CONVERTIBLE TRUST PLC
8 September 1999

               OLIM CONVERTIBLE TRUST PLC
       (in members' voluntary liquidation) ('OCT')


The Joint Liquidators of OCT declared on 7 September 1999
a second and final distribution of 2.552 pence per
ordinary share, bringing the total distributed to members
to 18,0224 pence per ordinary share.  Under the terms of
the scheme of reconstruction approved by the members,
this distribution is payable to all the ordinary
shareholders on the register of members on the Effective
Date pro rata to their respective holdings of such shares
provided that (a) in the case of ordinary shareholders
who have, or are deemed to have, made elections for
shares with 'A' rights attached to them ('the Abpref
Option') the balance to which they would otherwise be
entitled shall be paid to Abpref, and (b) in the case
where the amount so payable to any ordinary shareholder
is less than £3, such amounts will be aggregated, and
distributed to Abpref as an accretion to its funds.

Cheques are expected to be received by members on Friday,
10 September 1999.

For more information contact:-     R.G. White
                                   Joint Liquidator
                                   Tel. 0171-865 2266


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