PGI Pgi Grp

RNS No 7690d
PLANTATION & GENERAL INVESTMENTS PLC
1 July 1999
                              
                              
            Plantation & General Investments Plc
                              
    Acquisition of majority interest in Zambian rose farm

Plantation   &  General  Investments  Plc  ("the   Company")
announces that it has acquired a majority interest in  Khal-
Amazi   Limited,  which carries on the business  of  growing
roses in Zambia for export.

The Company has paid US$450,000 (approximately #286,000)  in
cash  to  acquire  a  50 per cent interest  in  the  holding
company of Khal-Amazi Limited and has subscribed for further
shares  in the holding company to take its total holding  to
80  per  cent of the issued capital.  The Company has agreed
to  commit to the holding company additional funds  of  some
US$1.35 million (approximately #860,000) (partly by  way  of
loan finance and partly by way of the subscription price for
the  additional shares) by no later than 30 April 2001.  The
Company's  total  investment under these  arrangements  will
therefore   amount   to   a  maximum   of   US$1.8   million
(approximately #1,146,000).

The  Company  has  granted the minority shareholder  in  the
holding  company of Khal-Amazi Limited the right to  acquire
up  to  a further 7.12% of the issued capital of the holding
company, dependent on the results of Khal-Amazi Limited  for
the period up to 31 December 2003.

Khal-Amazi  Limited commenced operations  in  1997  and  had
audited net assets at 31 March 1999 of Zambian Kwacha  2.049
billion  (approximately #506,000) and  incurred  an  audited
loss  for  the  year ended 31 March 1999 of  Zambian  Kwacha
1.035 billion (approximately #255,000).

The  Board  of  Directors  of  the  Company  considers  this
transaction  to  be  in  line with its  stated  strategy  of
expanding its interests in Africa.
                                               1st July 1999
                                                            
Enquiries:

Plantation & General                    Tel: 0171 246 0200
Richard Clothier

College Hill                            Tel: 0171 457 2020
Nicholas Williams
Corinna Dorward


END

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