Holding(s) in Company

    SCHEDULE 10

NOTIFICATION OF MAJOR INTERESTS IN SHARES

1)   Name of company
     Value and Income Trust plc


2)   Name of shareholder having a major interest
     The Scottish American Investment Company PLC


3)   Please state whether notification indicates that it is in respect
     of
     holding of the shareholder named in 2 above or in respect of a
     non-beneficial interest or in the case of an individual holder if
     it is a
     holding of that person's spouse or children under the age of 18
     Of 2 above


4)   Name of the registered holder(s) and, if more than one holder, the
     number of shares held by each of them
     not disclosed


5)   Number of shares/amount of stock acquired
     Not disclosed.


6)   Percentage of issued class
     n/a


7)   Number of shares/amount of stock disposed
     100,000


8)   Percentage of issued class
     0.2%

9)   Class of security
     Ordinary 10p


10)  Date of transaction
     25 April 2003


11)  Date company informed
     1 May 2003


12)  Total holding following this notification
     2,236,450


13)  Total percentage holding of issued class following this
     notification
     4.91%


14)  Any additional information
     No


15)  Name of contact and telephone number for queries
     Amanda Fraser 0131 313 6472


16)  Name and signature of authorised company official responsible for
     making this notification

     Date of notification 1 May 2003