FRNI Framlington Inc

RNS Number:4359H
Exeter Asset Management Ltd
24 July 2001


Notification of Disposal - Disclosure Under Rule 5 of "SARs"



STOCK:       FRAMLINGTON INCOME  & CAPITAL INVESTMENT TRUST


Please accept this as notification that Exeter Asset Management Limited on
behalf of Clients DISPOSED on 23 July 2001 of 500,000 Framlington Income &
Capital INCOME  shares.


Exeter Asset Management Limited now holds 11,265,000 Voting Shares
representing in aggregate 17.61% of the Voting Capital of the Company.


Breakdown

Capital shares:           1,715,000

Income shares:            9,550,000


END

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