Holding(s) in Company

    SCHEDULE 10
                                        
                    NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Name of company

St. David's Investment Trust PLC

2. Name of shareholder having a major interest

Aberdeen Preferred Income Trust PLC

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



4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them

State Street Nominees Ltd for XCC8

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

9,329,350

8. Percentage of issued class

11.54%

9. Class of security

Ordinary 1p shares

10. Date of transaction

17 May 2004


11. Date company informed

19 May 2004

12. Total holding following this notification

3,314,327 Ordinary 1p shares

13. Total percentage holding of issued class following this notification

4.10%

14. Any additional information


15. Name of contact and telephone number for queries

Ruth Greenall, 020 7463 6305

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

Aberdeen Asset Management PLC - Secretary

Date of notification

19 May 2004