Holding in Company

Headlam Group PLC
9 November 2001

We were notified today that the trustees of The Headlam Employees Share Trust
disposed of 116,163 ordinary shares of 5 pence each (0.00015% of the issued
share capital) at a price of 249 pence per share following which the Trust
company will cease to have a shareholding.

The shares were acquired in September 1999 following the grant of Equity
Participation Plan awards, of which A J Brewer and S G Wilson were potential
beneficiaries over 18,713 each. These awards have been allowed to lapse since
they are no longer considered appropriate following the restructuring and
divestment of certain Group activities during the year.

An alternative award arrangement has been put in place to compensate
participants for the termination of the Plan awards.

End