Holding in Company

Kern River PLC
22 May 2001



                                 SCHEDULE 10

                  NOTIFICATION OF MAJOR INTERESTS IN SHARES


1)   Name of company

Kern River plc

2)   Name of shareholder having a major interest

AXA S.A.

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

 Sun Life Pensions Management Limited

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

Smith & Williamson Nominees Limited - 100,000



RBSTB Nominees designation Sunpen - 3,145,741

5)   Number of shares/amount of stock acquired

50,600 Ordinary shares

6)   Percentage of issued class

0.22%

7)   Number of shares/amount of stock disposed



8)   Percentage of issued class



9)   Class of security

Ordinary Shares

10)  Date of transaction

21 May 2001



11)      Date company informed


22    May 2001


12)  Total holding following this notification

3,245,741 Ordinary Shares

13)  Total percentage holding of issued class following this notification

14.11%

14)  Any additional information



15)  Name of contact and telephone number for queries

G Butterfield, Company Secretary  01902 456767

16)  Name and signature of authorised company official responsible for
     making this notification
As in 15
     Date of notification: 22 May 2001