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Thursday 19 May, 2005


SAR 3 - Pipex Communications

19 May 2005

                                                                      FORM SAR 3

                           DISCLOSURE OF ACQUISITIONS

       (Rule 3 of The Rules Governing Substantial Acquisitions of Shares)

Name of acquirer                                UBS AG London Branch

Beneficial owner, if different from above

Names of any other persons acting by agreement
or understanding (see SAR 5)
Company dealt in                                PIPEX Communications PLC

Class of voting shares (eg ordinary shares)     Ordinary Shares

Date of acquisition                             18th May 2005

Number of shares acquired                       2,400,000

Number of rights over shares acquired #
Nature of rights over shares

Total holding of voting shares (and percentage  439,021,029 (20.10%)
of total voting shares in issue)

Total holding of rights over shares (and
percentage of total voting shares in issue)

Combined total holding (and percentage) of
voting shares and rights over shares

Date of disclosure                              18th May 2005

Contact name                                    Joseph Evans

Telephone number                                020 7567 8286

#  See the definition of 'rights over shares' in the Definitions Section of the

For details of the SARs disclosure requirements, see SARs 3 and 5 and their
Notes which can be viewed on the Takeover Panel's website at

                      This information is provided by RNS
            The company news service from the London Stock Exchange