Substantial Acquisitions of Shares Disclosure

Churchill China PLC
6 July 2000

                                                        FORM SAR 3


                                       Date of disclosure...6 JULY 2000.....

                 DISCLOSURE UNDER RULE 3 OF THE RULES GOVERNING
                   SUBSTANTIAL ACQUISITIONS OF SHARES ('SARs')

                 
Date of acquisition......5 JULY 2000........................................

Acquisition in........CHURCHILL CHINA......................(name of company)


(1) Class of voting shares    Number of shares/rights   If rights over shares
    (eg ordinary shares)      over shares acquired      acquired, as opposed
                                                        to the shares
                                                        themselves, specify
                                                        nature of rights

    ..ORDINARY SHARES...      ...50,000.......shares    .......N/A...........
                              ...N/A..........rights


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

    .1,826,774.....(17.15%)   .......N/A......(N/A %)    ......N/A....(    %)


(3) Party making disclosure.......ALTIUM CAPITAL LIMITED....................  

(4)  (a)  Name of person acquiring shares or rights over shares ..STEELITE
                                                    INTERNATIONAL..........
          and, if different, beneficial owner.......N/A..................... 

     (b)  Names of any other persons acting by
          agreement or understanding (see SAR 5)....N/A.....................


Signed, for and on behalf of the party named in (3) above...................

(Also print name of signatory)........STEPHEN MOORE.........................

Telephone and extension number.....0161 831 9133 EXT: 206...................

Note. Under SAR 5, the holdings of and acquisitions by persons acting by
agreement or understanding must be aggregated and treated as a holding of or
acquisition by one person.  Note 3 on SAR 5 requires persons who must aggregate
holdings to disclose certain disposals.

For full details of the SARs disclosure requirements, see Rules 3 and 5 of the
SARs.  If in doubt, contact the Panel on Takeovers and Mergers, 
Tel. No: 020 7382 9026.