RNS Number:0090M
Energy Capital Investment Co.PLC
06 June 2003



        Announcement re completion of sale of 3TEC to Plains Exploration

                 Energy Capital Investment Company PLC ("ECIC")

The Board of ECIC announces that the acquisition of 3TEC Energy Corporation
("3TEC") by Plains Exploration & Production Company ("Plains Exploration") was
completed on 4 June 2003. ECIC will receive cash proceeds of $6.4 million and
474,805 shares of Plains Exploration with a value (assuming the current share
price of Plains Exploration of $10.8 per share) of $5.1 million. The aggregate
consideration of $11.5 million compares with the valuation of 3TEC securities of
$9.5 million as at 31 December 2002. As a result, the total cash that will be
held by ECIC amounts to approximately $17 million.




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