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Welsh Indl.Inv.Tst (WII)

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Monday 08 August, 2005

Welsh Indl.Inv.Tst

Holding(s) in Company


                         36 Elder Street, London E1 6BT

Re:  Substantial Shareholdings

The Company wishes to advise that the ordinary shareholding of The Gresham House
No 1 Pension Scheme shown on page 5 of the recently published Report and
Financial Statements for the year ended 5th April, 2005 is stated incorrectly.

This figure should be 46,000 ordinary shares representing 3.41% of the issued
ordinary share capital and not 67,000 shares as stated.

The figures shown in respect of the 8.75% Cumulative Preference Shares of 20p
each held by The Gresham House No. 1 Pension Scheme remain as stated.

Enquiries:     A P Stirling

Telephone:     020 7588 7352

8th August, 2005                    

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