Holding(s) in Company

Acal PLC
27 July 2004

Acal plc - Notification of Interest in Shares



Acal plc (the "Company") received notice on 27 July 2004 that, for the purposes
of Part VI of the Companies Act 1985 (as amended) Artemis Investment Management
Limited and certain of its subsidiary companies have a notifiable interest in
the issued share capital of the Company as detailed below.





Beneficial Owner                    Holding          Total notifiable interest

Artemis UK Smaller Companies Fund   1,056,631        4.0120%











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