Lex Service offered fund by Dresdner

Holders of loan notes issued when Lex Service acquired the RAC's motoring services' business in July 1999 are being offered an opportunity to exchange them for units in the Dresdner RCM UK Growth unit trust. Lex loan notes are a low risk investment but also have a low yield and no potential for capital growth. In addition, they have a limited life ending on July 2004 when they have to be redeemed at their original value, and, in the meantime, can only be redeemed on two set dates each year. In aggregate, the loan notes are worth £150m with the value of the original offer to eligible RAC ...