Holding(s) in Company

    TR-1 (i) NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which
voting rights are attached (ii):

Framlington Income and Capital Trust

2. Reason for the notification                               State             
                                                            Yes/No             
                                                                               
An acquisition or disposal of voting rights                                    
                                                                               
An acquisition or disposal of financial                                        
instruments which may result in the                                            
acquisition of shares already issued to which                                  
voting rights are attached                                                     
                                                                               
An event changing the breakdown of voting                                      
rights                                                                         
                                                                               
Other (please specify):                                        X               

3. Full name of person(s) subject to the         Rensburg Sheppards Investment 
notification obligation (iii):                        Management Limited       
                                                                               
4. Full name of shareholder(s) (if different                  N/A              
from 3.) (iv):                                                                 
                                                                               
5. Date of the transaction (and date on which         28th February 2007       
the threshold is crossed                                                       
or reached if different) (v):                                                  
                                                                               
6. Date on which issuer notified:                       6th March 2007         
                                                                               
7. Threshold(s) that is/are crossed or reached:               5%               
                                                                               
8. Notified details: Initial Disclosure                Nominee Holdings        

A: Voting rights attached to shares

Class/type of      Situation        Resulting situation after the triggering   
    shares        previous to                  transaction (vii)               
 if possible    the Triggering                                                 
using the ISIN transaction (vi)                                                
     CODE                                                                      
                                                                               
                Number   Number   Number   Number of voting      % of voting   
                  of       of       of        rights (ix)          rights      
                Shares   Voting   shares                                       
                         Rights                                                
                         (viii)                                                
                                                                               
                                  Direct   Direct   Indirect  Direct  Indirect 
                                            (x)       (xi)                     
                                                                               
   Ordinary                                        1,413,327            5.69%  
    Shares                                                                     
                                                                               
 GB0006333545                                                                  
                                                                               

B: Financial Instruments

Resulting situation after the triggering transaction (xii)

  Type of    Expiration      Exercise/        Number of voting    % of voting  
 financial   date (xiii)     Conversion      rights that may be      rights    
 instrument              Period/ Date (xiv)   acquired if the                  
                                                 instrument                    
                                               is exercised/                   
                                                 converted                     
                                                                               

Total (A+B)                                                                    
                                                                               
Number of voting rights                  % of voting rights                    
                                                                               
1,413,327                                5.69%                                 

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable (xv):

Client holdings registered in the name of Nominee companies 100% owned by      
Rensburg Sheppards Investment Management Limited.                              

Proxy Voting:


10. Name of the proxy holder:                           N/A                    
                                                                               
11. Number of voting rights proxy holder will cease to  N/A                    
hold:                                                                          
                                                                               
12. Date on which proxy holder will cease to hold       N/A                    
voting rights:                                                                 

13. Additional information:                             N/A                    
                                                                               
14. Contact name:                                       Eleanor Cranmer        
                                                                               
15. Contact telephone number:                           020 7330 6680          

C: Additional information

The is the initial disclosure made by Rensburg Sheppards Investment Management 
Limited based on Nominee holdings in accordance with DTR 5.2.1(F). On an going 
basis additional disclosures will be made as and when a notifiable threshold is
crossed.                                                                       



END