Holding in Company

Derwent Valley Holdings PLC
5 July 2000

                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     DERWENT VALLEY HOLDINGS PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     SCOTTISH WIDOWS INVESTMENT PARTNERSHIP LTD.

3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

     -

4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

     SEE BELOW 

5)   Number of shares/amount of stock acquired.

     -

6)   ( - %) of issued Class

7)   Number of shares/amount of stock disposed

     -

8)   ( - %) of issued Class

9)   Class of security

     5P ORDINARY SHARES

10)  Date of transaction

     NOT KNOWN

11)  Date company informed

     5TH JULY 2000

12)  Total holding following this notification

     2,211,008
               
13)  Total percentage holding of issued class following this notification

     4.16%

14)  Any additional information



15)  Name of contact and telephone number for queries

     T.J. KITE     020 7486 4848

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

     Date of Notification .....5TH JULY 2000..................


                         DERWENT VALLEY HOLDINGS PLC

                Scottish Widows Investment Partnership Limited

Registered Holder                                        No. of Shares

Global Investor Services                                      55,700
HSBC Global Custody Nominees (UK) Limited                    390,314
State Street Nominees Limited A/C XBY2                       650,718
State Street Nominees Limited A/C XBY4                       367,937
C O Nominees N210                                            317,652
State Street Nominees Limited A/C XBJ2                       396,087
Talbot Nominees Limited                                       32,600
                                                           ---------
                                                           2,211,008
                                                           =========