Holding(s) in Company

Derwent Valley Holdings PLC
12 September 2003


                                                     SCHEDULE 10

                                      NOTIFICATION OF MAJOR INTERESTS IN SHARES

1)        Name of company:

          DERWENT VALLEY HOLDINGS PLC

2)        Name of shareholder having a major interest:

          STANDARD LIFE INVESTMENTS LIMITED

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:

          N/A

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:

          383,175

6)        Percentage of issued class:

          0.72%

7)        Number of shares/amount of stock disposed:

          N/A

8)        Percentage of issued class:

          0.00%

9)        Class of security:

          5p Ordinary shares

10)       Date of transaction:

          September 11, 2003

11)       Date company informed:

          September 12, 2003

12)       Total holding following this notification:

          3,524,810

13)       Total percentage holding of issued class following this notification:

          6.63%

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 - Company Secretary

          Date of notification:        September 12, 2003


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