Holding in Company

Peerless Technology Group PLC
4 December 2001

                                 SCHEDULE 10

                  NOTIFICATION OF MAJOR INTERESTS IN SHARES


AVS NO

All relevant boxes should be completed in block capital letters.

1.       Name of company                   2.       Name of shareholder having
                                           a major interest

Peerless Technology Group                  Intrinsic Value PLC


3.       Please state whether notification 4.       Name of the registered
indicates that it is in respect of holding holder(s) and, if more than one
of the shareholder named in 2 above or in  holder, the number of shares held by
respect of a non-beneficial interest or in each of them
the case of an individual holder if it is
a holding of that person's spouse or
children under the age of 18.

                                           HSBC Global Custody Nominee (UK)
IN RESPECT OF THE SHAREHOLDER NAMED IN 2   Limited
ABOVE


5.       Number of       6.                7.       Name of     8.
shares/amount of stock   Percentage of     shares/amount of     Percentage of
acquired                 issued class      stock disposed       issued class

500,000                  3.353%            N/A                   N/A


9.        Class of security    10.     Date of         11.     Date company
                               transaction             informed
Ordinary 20p Shares
                               27/11/01                03/12/01

12.     Total holding          13.     Total percentage holding of issued class
following this notification    following this notification

500,000                        3.353%

14.     Any additional information        15.     Name of contact and telephone
                                          numbers for queries    Guy Wiehahn
N/A                                       020 7868 2873

16.     Name and signature of authorised
company official responsible for making
this notification

CHARLES CRICK

DIRECTOR

Date of notification       4 DECEMBER 2001