CDM Codemasters Group Holdings Plc

RNS No 2395q
CAIRNGORM DEMUTUALISATION INVESTMENT TRUST PLC
21st September 1998


          Cairngorm Demutualisation Investment Trust
          final results for period ended 31 July 1998
                               
                          CORRECTION
                               
Please note the following correction to the above announcement
released at 0730 hours today, Monday, 21 September 1998:

Balance Sheet
Capital and reserves:
Share premium account should read #5,908,297 (not #6,147,138)
Warrant reserve should read #478,283 (not #239,442)

These amendments do not affect the figures for either the
Ordinary shareholders' funds (#14,862,494) or Net asset value
per ordinary share (104.7p).

The revised Balance Sheet incorporating the above changes is
attached.


For further enquiries, please contact:

Kenneth  Murray 
J P Cairngorm Asset Management  Ltd       0131226 6040
Brian  Tait           
J P Cairngorm Asset Management Ltd        0131 226 6040

Issued by:
Elizabeth Forbes                    
Grandfield                                0171 417 4170



                         BALANCE SHEET
                        at 31 July 1998

                                              1998
                                     (#)       (#)
                                                  
Fixed assets                                      
Equity investments                         7,113,981
                                                 
Non-equity investments                    14,505,562
                                            --------
                                          21,619,543
Current assets                                    
Debtors                          604,806          
Cash at bank                     112,817          
                                 -------          
                                 717,623          
Creditors: amounts falling due 7,474,672
 within one year                       
Net current liabilities                   (6,757,049)
                                               
                                          --------
                                          
Net assets                                14,862,494
                                                
                                          --------
                                         
Capital and reserves                              
Called-up share capital                   7,096,200
                                                 
Share premium account                     5,908,297
                                                
Other reserves                                    
   Capital reserve - realised             (168,571)
                                                
    Capital reserve - unrealised         1,521,285
    Warrant reserve                        478,283
     Revenue reserve                        27,000
                                          --------
                                             
Ordinary shareholders' funds            14,862,494
                                                
                                          --------
                                          
Net asset value per ordinary                104.7p
share
                                          --------
                                            
                                                  
The  financial  statements  were  approved  by  the  Board  of
Directors on 21 September 1998 and were signed on its behalf by:

Philip Court
Director

The  Company  employs J P Cairngorm Asset  Management  Ltd  to
manage its portfolio.

The  Report  &  Accounts  for the  Company  will  be  sent  to
shareholders on Monday 21st September 1998.

If  approved at the Annual General Meeting of the Company  the
final dividend will  be  paid  on 15 October 1998.  The first Annual  
General Meeting of the Company will  be  held  at  the offices of 
Shepherd & Wedderburn,  WS, Saltire Court, 20  Castle Terrace, Edinburgh 
on Wednesday 14 October 1998  at 10.00am.

END

FR BFFFLVKKZBKQ

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