The company announces the following unaudited data relating                         
to its portfolio of investments as at 16 May 2003:                                  
Total Assets (Excl Current & Prior Yr Revenue)                                   �  
                                                                        38,130,779  
Total Bank Debt                                                                  �  
                                                                        19,600,000  
                                                                                 �  
                                                                        18,530,779  
Liability Due To Zero Dividend Prefs                                             �  
                                                                        10,060,683  
Net Assets Attributable to Ordinary Shareholders (Excl current & prior  �8,470,096  
year Revenue)                                                                       
Net Assets Attributable to Ordinary Shareholders (incl undistributed    �9,499,254 *
Revenue reserves )                                                                  
Nav (Excl Current & Prior Year Revenue) Per Ordinary Share                  30.25p  
* includes �798,000 in respect of the 4th interim dividend; Please refer to         
announcement made.                                                                  



END