Holding(s) in Company

RNS Number:7546T
Ecofin Water & Power Opps PLC
31 December 2003

                                  SCHEDULE 10


                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

 1. Name of company

    Ecofin Water & Power Opportunities plc "income shares"
 2. Name of shareholder having a major interest

    Allianz AG and its subsidiaries
 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

    Notification of shareholder named in 2 above
 4. Name of registered holder(s) and, if more than one holder, the number of
    shares held by each of them

    N/A
 5. Number of shares/amount of stock acquired

    N/A
 6. Percentage of issued class

    N/A
 7. Number of shares/amount of stock disposed

    N/A
 8. Percentage of issued class

    N/A
 9. Class of security

    Income shares of 1p each
10. Date of transaction

    23 December 2003
11. Date company informed

    31 December 2003
12. Total holding following this notification

    No longer a disclosable material interest
13. Total percentage holding of issued class following this notification

    N/A
14. Any additional information

The Company was notified by Dresdner Kleinwort Wasserstein Group Limited, an
indirect subsidiary of Allianz AG, following the transfer of Merchant Investors
Assurance Company Limited out of the Allianz Group. Merchant Investors Assurance
Company still has a notifiable interest.


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