Net Asset Value(s)

LOWLAND INVESTMENT COMPANY PLC HENDERSON GLOBAL INVESTORS 4 APRIL 2003 LOWLAND INVESTMENT COMPANY PLC As at close of business on 3 April 2003, the unaudited net asset value per share calculated in accordance with the AITC formula (excluding current financial year revenue items) was 378.2p. For further information, please call: John Hilton Investment Trust Accounting Department Cogent Investment Operations Limited Tel: 020 7410 4538 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/04/04/20030404BIT01300/wkr0001.doc http://www.waymaker.net/bitonline/2003/04/04/20030404BIT01300/wkr0002.pdf