CNN Caledonian Trust Plc

RNS No 8700u
CALEDONIAN TRUST PLC
18th December 1997


CALEDONIAN TRUST - RESULTS TO 30 JUNE 1997

Caledonian Trust PLC, the Edinburgh based property investment company,
announces its audited results for the year to 30 June 1997.

                                                  1997         1996
          Rents received                          #3.40m       #3.27m
          Property Sales                          #0.09m         -
          Profit                                  #0.99m       #0.60m
          E.P.S.                                    8.1p         5.1p
          Shareholders Capital and Reserves       #10.1m       #11.4m
          Property Assets                         #31.7m       #32.8m

The Director's Report and Accounts will be circularised to all shareholders
within the next few days and copies are available from the Company's Head Office
at 61 North Castle Street, Edinburgh, EH2 3LJ and will also be available for the
next fourteen days in the offices of Neill Clerk Capital Limited, 1 Portland
Place, London W1n 3AA

Douglas Lowe, Chief Executive of Caledonian Trust PLC says:

          "Profits have risen by 65% to #0.99m and earnings per share by 59% to
          8.1p as a result of higher rents and lower administration costs and
          interest costs.  Unfortunately, due primarily to shortening lease
          lengths and the continued poor performance of Scottish offices, the
          value of some of our investments has fallen and the NAV per share has
          declined from 95.6p to 82.6p.

          Short-term interest rates should peak soon and the drop in long-term 
          rates is not yet reflected in property yields.  Rental growth is
          returning to some of our markets, especially in Edinburgh where the
          Parliament will increase demand, and this growth should increase
          investment values.

          We are selling some properties to reinvest in more attractive areas
          and activities.  Over the year the Group has benefited from its
          take-over of CCL Developments plc and will benefit from agreed tax
          losses from previous years of #4.75m, which are available to reduce
          future taxation.  I expect our strengthening markets to provide
          opportunities for further corporate development.

          Trading this year is very satisfactory despite the rise in short-term
          interest rates."

END

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