Holding in Company

RNS Number:6681L
Pavilion Geared Recovery Trust PLC
16 October 2001

Pavilion Geared Recovery Trust PLC



The Company was informed today by Aberdeen Asset Managers Limited that they
sold 1,500,000 Ordinary Income 1p shares on 12 October 2001, on behalf of Real
Estate Opportunities Limited.



Real Estate Opportunities Limited now holds 900,000 Ordinary Income 1p shares,
representing 3.00% of the issued class of capital (previously 8.00%).



Aberdeen Asset Managers Limited also informed the Company that they sold an
additional 500,000 Ordinary Income 1p shares on behalf of discretionary funds
under management.



The total number of shares managed by Aberdeen Asset Managers Limited and its
associated companies is 6,500,000 Ordinary shares, representing 21.67% of the
issued class of capital (previously 28.33%).





The breakdown of the total holding is as follows:



Aberdeen High Income Trust PLC                               2,500,000     8.33
The Media & Income Trust PLC                                 1,000,000     3.33
St David's Investment Trust Plc                              1,100,000     3.67
Leveraged Income Fund Limited                                1,000,000     3.33
Real Estate Opportunities Limited                              900,000     3.00
Aberdeen Fund of Investment Trusts                                   0     0.00