Holding(s) in Company

RNS Number:4621R
Progressive Geared Income Trust PLC
29 October 2003


                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

1) Name of company

Progressive Geared Income Trust plc

2) Name of shareholder having a major interest

Weiss Asset Management and Weiss Capital

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
Non-beneficial interest as investment manager

4) Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them
Bear Stearns Securities

5) Number of shares/amount of stock acquired
1,000,000 shares

6) Percentage of issued class
2.22%

7) Number of shares/amount of stock disposed
-

8) Percentage of issued class
-

9) Class of security
Ordinary shares of 5p

10) Date of transaction
28 October 2003

11) Date company informed
29 October 2003

12) Total holding following this notification
5,605,000

13) Total percentage holding of issued class following this notification
12.46%

14) Any additional information
Funds managed by Weiss Asset Management and Weiss Capital holding shares in
Progressive Geared Income Trust are as follows:

Brookdale International Partners 4,038,500 ordinary shares

Brookdale Global Opportunity Fund 1,566,500 ordinary shares

15) Name of contact and telephone number for queries
A Lee 020 7490 4355

16) Name of authorised company official responsible for
making this notification
Anthony Lee

Date of notification 29 October 2003






                      This information is provided by RNS
            The company news service from the London Stock Exchange

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