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Notes to the Company Financial Statements


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2 Investments in subsidiaries

2 Investments in subsidiaries
All figures in £ millions 2005 2004 2003
At beginning of year 7,134 6,343 6,422
Subscription for share capital in subsidiaries 61 915 -
External acquisition 30 - 15
Share repurchase from subsidiary (331) - -
Disposal to subsidiary (11) - (22)
Provision for diminution in value - (100) (33)
Revaluations - (24) (39)
At end of year 6,883 7,134 6,343

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