SAR - Jubilee Inv Trust

RNS Number:7941G
Hanover Capital Group PLC
29 January 2003

                                                                      FORM SAR 3


Lodge with a RIS or Newstrack if appropriate and the Takeover Panel.
A copy must also be sent to the company the shares of which are acquired.


Date of disclosure


29 JANUARY 2003



DISCLOSURE UNDER RULE 3 OF THE RULES GOVERNING
SUBSTANTIAL ACQUISITIONS OF SHARES ("SARs")



Date of acquisition


24 JANUARY 2003



Acquisition in (name of company)


JUBILEE INVESTMENT TRUST PLC



1. Class of voting shares (eg ordinary shares)


ORDINARY 10P SHARES



Number of shares/rights over shares acquired


2,500,000        Shares            NIL       Rights



If rights over shares acquired, as opposed to the shares themselves, specify
nature of rights


N/A



2. Resultant total holding of voting shares (and % of total voting shares in
issue)


2,500,000                                            18.5%



Resultant total holding of rights over shares (and % of total voting shares in
issue)


N/A                                                  0%



Total percentage


18.5%



3. Party making disclosure


GRANT THORNTON, NOMINATED ADVISER TO HANOVER CAPITAL GROUP PLC



4. (a) Name of person acquiring shares or rights over shares


HANOVER CAPITAL GROUP PLC



and, if different, beneficial owner


N/A



(b) Names of any other persons acting by agreement or understanding (see SAR 5)


N/A



Signed, for and on behalf of the party named in (3) above


FIONA KINDNESS



(Also print name of signatory)


FIONA KINDNESS



Telephone and extension number


0870 991 2520



Note.   Under SAR 5, the holdings of and acquisitions by persons acting by
agreement or understanding must be aggregated and treated as a holding of or
acquisition by one person. Note 3 on SAR 5 requires persons who must aggregate
holdings to disclose certain disposals.

For full details of the SARs disclosure requirements, see Rules 3 and 5 of the
SARs.  If in doubt, contact the Panel on Takeovers and Mergers, Monitoring
Section.  Tel. No: 020 7638 0129.

Email:[e-mail]




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