Holding(s) in Company

Derwent Valley Holdings PLC
11 March 2004

                                   SCHEDULE 10

                     NOTIFICATION OF MAJOR INTERESTS IN SHARES

1)     Name of company:
       DERWENT VALLEY HOLDINGS PLC

2)     Name of shareholder having a major interest:
        SCOTTISH WIDOWS INVESTMENT PARTNERSHIP 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:
        STATE STREET NOMINEES LIMITED

5)     Number of shares/amount of stock acquired:
        N/A

6)     Percentage of issued class:
        N/A

7)     Number of shares/amount of stock disposed:
        N/A

8)     Percentage of issued class:
        N/A

9)     Class of security:
        5p Ordinary shares

10)    Date of transaction:
        N/A

11)    Date company informed:
        March 10, 2004

12)    Total holding following this notification:
        2,070,822

13)    Total percentage holding of issued class following this notification:
        3.89%

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:               March 11,            2004





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