Investment in Other Investment Companies

    SCHEDULE 10                                  
                                                                               
                   NOTIFICATION OF MAJOR INTERESTS IN SHARES                   

1. Name of company

Framlington Income & Capital Trust PLC                                         

2. Name of shareholder having a major interest

Hallwood Investments Limited                                                   

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

Shareholder in (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 advised                                                                    

5. Number of shares / amount of stock acquired

250,000                                                                        

6. Percentage of issued class

1.00%                                                                          

7. Number of shares / amount of stock disposed

Not advised                                                                    

8. Percentage of issued class

Not Advised                                                                    

9. Class of security

25p Capital shares                                                             

10. Date of transaction

Not advised                                                                    

11. Date company informed

30 August 2005                                                                 

12. Total holding following this notification

1,320,000                                                                      

13. Total percentage holding of issued class following this notification

5.32%                                                                          

14. Any additional information

15. Name of contact and telephone number for queries

Eleanor Cranmer                                                                
                                                                               
020 7330 6680                                                                  

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

Eleanor Cranmer                                                                

Date of notification

30 August 2005                                                                 

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END