97HF Commerzbk Uk Nt

RNS No 4200f
PICET BRITISH INVESTMENT COMPANY LIMITED

                    DEALINGS BY SUBSTANTIAL SHAREHOLDERS

1)  NAME OF COMPANY

PICET BRITISH INVESTMENT COMPANY LIMITED

2)  NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

ALLIANZ (UK) LIMITED THROUGH SUBSIDIARIES MERCHANT INVESTORS ASSURANCE CO. LTD
AND CORNHILL INSURANCE 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

ALLIANZ (UK) LIMITED THROUGH SUBSIDIARIES MERCHANT INVESTORS ASSURANCE CO. LTD
AND CORNHILL INSURANCE PLC.

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

BANK OF NEW YORK (NOMINEES) LIMITED

5)  Number of shares/amount of stock acquired.

400,000

6)  ( 9.2561%)of issued Class

7)  Number of shares/amount of stock disposed

N/A

8)  ( N/A %) of issued Class

9)  Class of security

ORDINARY 1P

10) Date of transaction

17 OCTOBER 1997

11) Date company informed

20 OCTOBER 1997

12) Total holding following this notification

6,225,000

13) Total percentage holding of issued class following this notification

14.4049%

14) Any additional information

N/A

15) Name of contact and telephone number for queries

A.H.RENTSCH OR S.J.BIGNELL 01534 613000

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

    Date of Notification.20TH OCTOBER 1997......




                    DEALINGS BY SUBSTANTIAL SHAREHOLDERS

1)  NAME OF COMPANY

PICET BRITISH INVESTMENT COMPANY LIMITED

2)  NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

KLEINWORT BENSON GROUP 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

KLEINWORT BENSON GROUP PLC

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

GUERNSEY NOMINEES LTD

5)  Number of shares/amount of stock acquired.


6)  ( %)of issued Class

7)  Number of shares/amount of stock disposed

150,684

8)  (0.3486 %) of issued Class

9)  Class of security

ORDINARY 1P

10) Date of transaction

16 OCTOBER 1997

11) Date company informed

17 OCTOBER 1997

12) Total holding following this notification

1,633,839

13) Total percentage holding of issued class following this notification

3.781%

14) Any additional information

N/A

15) Name of contact and telephone number for queries

A.H.RENTSCH OR S.J.BIGNELL 01534 613000

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

    Date of Notification.20TH OCTOBER 1997......


END

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