Holding in Company

Derwent Valley Holdings PLC
14 May 2001


                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

DERWENT VALLEY HOLDINGS PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

STANDARD LIFE INVESTMENT

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

NOT KNOWN

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

STANLIFE NOMINEES LIMITED

5)   Number of shares/amount of stock acquired.



6)   (     %) of issued Class

7)   Number of shares/amount of stock disposed

262,454

8)   ( 0.49% ) of issued Class

9)   Class of security

5P ORDINARY SHARES

10)  Date of transaction

09/05/2001

11)  Date company informed

10/05/2001

12)  Total holding following this notification

2,559,145
               
              
13)  Total percentage holding of issued class following this notification

4.81%

14)  Any additional information



15)  Name of contact and telephone number for queries

T. J. KITE
020 7659 3000

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

T. J. KITE

     Date of Notification    14 MAY, 2001