RNS No 2165d
CLEVELAND TRUST PLC
26th February 1999

                   THE CLEVELAND TRUST PLC

The Board of The Cleveland Trust Plc (the "Company") has
noted the announcement regarding Ashtenne Holdings PLC's
("Ashtenne") acquisition of an option to purchase the 28.4
per cent. stake in the Company held by Trefick Limited at
105p per share.

The Board notes that the option exercise price is at a level
below The Cleveland Trust's published net asset value as at
31 March 1998 and is currently enquiring of Ashtenne's
intentions.  In the meantime, shareholders are urged to take
no action with regard to their own shares in the Company.

The Board of the Company is being advised by Hawkpoint
Partners Limited.

The Cleveland Trust Plc      David Heynes          0171 823 2393
                             Simon Codrington

Hawkpoint Partners Limited   Christopher Nicolle   0171 665 4500
                             Lawrence Guthrie

City Profile Group Limited   Jonathan Gillen       0171 726 8588

Hawkpoint  Partners  Limited,  which  is  regulated  by  the
Securities and Futures Authority Limited, is acting for  The
Cleveland Trust Plc and no-one else in connection with  this
matter, and will not be responsible to any other person  for
providing the protections afforded to its customers  or  for
giving advice in relation to this matter.


END

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