Thompson Clive Inv - Re TCG Listing etc

RNS No 7444m
THOMPSON CLIVE INVESTMENTS PLC 
1 July 1999


Thompson Clive Investments plc ("TCI")

Following the announcement by TCI on 17 May 1999 concerning The Terence
Chapman Group PLC ("TCG"), the Board of TCI is pleased to note that TCG today
formally applied for admission of all its ordinary shares for listing on the
London Stock Exchange.  Admission is expected on 7 July 1999.  A placing,
conditional on admission, has been concluded at a price of #1.35 per share
(after a 1 for 1 bonus issue).  TCI is selling 1,375,629 shares for proceeds
of #1.83m.  TCI continues to hold 14,600,791 shares.  These shares are subject
to restrictions on sale until the announcement of the results of TCG for the
half-year ending 29 February 2000, expected in May 2000.  In accordance with
TCI's normal accounting policy, these shares will be valued by TCI at a
discount of 2% per month of restriction remaining.  Accordingly, the holding
in TCG has been valued as at 30 June 1999 at #1.05 per share, a 22% discount
to the placing price.

Following the announcement by TCI on 4 June 1999 concerning Persistence
Software Inc ("Persistence"), the Board of TCI is pleased to note that the
company successfully concluded a placing at $11 per share and that trading
commenced on NASDAQ on 25 June 1999.  After consolidation of the share
structure, TCI holds 2,313,855 shares of common stock.  No shares were bought
or sold by TCI in the placing.  These shares are subject to restrictions on
sale for 180 days following the placing.  Applying the same policies as above,
the holding in Persistence has been valued at $11.99, a 12% discount to the
closing price on 30 June 1999.

TCI announces that its unaudited net asset value at 30 June 1999 is 700p per
share.

1.7.1999
Contact for further information : Nat Hone
Tel 0171 491 4801  

END

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