Holding(s) in Company

CLS Holdings PLC
19 December 2002



LETTER TO CLS HOLDINGS PLC - DATED 13 DECEMBER 2002

Notification pursuant to s198 Companies Act 1985 ('the Act')

Dresdner Kleinwort Wasserstein Group Limited ('DrKWG') is an indirect subsidiary 
of Allianz AG.

The shares in DrKWG are held by Dresdner Investments (UK) Limited ('Dresdner
Investments'), a direct subsidiary of Zenon Beteiligungs GmbH ('Zenon'), a
direct subsidiary of Dresdner Bank AG. Dresdner is a direct subsidiary of
Allianz Finanzbeteiligungs GmbH ('Allianz Finanz') which is itself a direct
subsidiary of Allianz AG.

DrKWG is the holding company of KBPB Holdings Limited ('KBPBH'), together with
its subsidiaries. As a result of s203(2) of the Act. Allianz AG, Allianz Finanz,
Dresdner, Dresdner Investments, Zenon and DrKWG are interested in the CLS
Holdings plc ordinary 25p shares in which KBPBH together with its subsidiaries
are interested.

Following your recent buy-back of issued share capital, we hereby notify you
that the combined disclosable interest of Allianz AG, amounts to 17,403,840
shares representing 18.465% (previously 19.13%) of the ordinary issued share
capital of 94.254,431 shares issued by CLS Holdings plc, as advised by you.     
      
The present position in respect of the disclosable interests of the subsidiaries 
of Allianz is as follows: -

•  Kleinwort Benson (Guernsey) Trustees Limited is interested in 17,390,092
   shares representing 18.450% (previously 19.034%) of the issued capital.

•  Kleinwort Benson Channel Islands Limited, KBIM International Limited and 
   KBPBH are interested in 17,390,092 shares representing 18.450% 
   (previously 19.034%) of the issued capital.  The interests of these companies 
   arise as a result of s203(2) of the Act.

Whilst these shares are not beneficially held, we are advised that, in certain
circumstances. we are required to disclose these shareholdings pursuant to the
Act.

This announcement is made by DrKWG on behalf of Allianz AG and its subsidiaries.

FOR DRESDNER KLEINWORT WASSERSTEIN GROUP LIMITED 
 

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