RICH chairman Jim Porteous revealed that members have agreed to invest in Pace Micro Technology and Phytopharm plc as well as the 'hot tip',Turbo Genset.

He said West Yorkshire-based technology company Pace was one whose price had fallen recently, but which they believed was "excellent" and from which they had already taken some profit.

Their final investment was a "very speculative" one, in a company which was not making money at the moment, but which might have in the pipeline a drug to help deal with Alzheimer's Disease and other medicines to cure baldness and to suppress the appetite.

In unit terms RICH members invested half their cash in Turbo Genset, 35 per cent in Pace, and 15 per cent in Phytopharm.

The members also decided to sell half its shares in Railtrack, which they bought at £6.50 in February and were now at over £10. "We have made a nice fat profit in a fairly short period of time in Railtrack," said Mr Porteous.

In addition they decided to sell all their shares in Glynwed and in Royal Sun Alliance, and to put a stop loss limit on their shares in Great Universal Stores so they will be sold if they fall from their current price of £4.40 to £4.