Holding(s) in Company

Morgan Crucible Co PLC
02 January 2003

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES



1)           Name of company:

The Morgan Crucible Company 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:

Beneficial and non-beneficial interest of the shareholder named in 2 and its
subsidiaries.



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

HSBC Global Custody Nominee (UK) Ltd A/C 845315 2,565 shares;

HSBC Global Custody Nominee (UK) Ltd A/C 845017 1,200,000 shares; HSBC Global
Custody Nominee (UK) Ltd A/C 777086 41,796 shares; HSBC Global Custody Nominee
(UK) Ltd A/C 777094 30,000 shares; HSBC Global Custody Nominee (UK) Ltd A/C
777167 37,580 shares; HSBC Global Custody Nominee (UK) Ltd A/C 785078 8,038
shares; HSBC Global Custody Nominee (UK) Ltd A/C 873426 25,390 shares; HSBC
Global Custody Nominee (UK) Ltd A/C 867815 1,108,484 shares; HSBC Global Custody
Nominee (UK) Ltd A/C 867396 1,687,683 shares; HSBC Global Custody Nominee (UK)
Ltd A/C 867530 200,000 shares; HSBC Global Custody Nominee (UK) Ltd A/C 867372
5,153,862 shares; HSBC Global Custody Nominee (UK) Ltd A/C  887553 19,570
shares; HSBC Global Custody Nominee (UK) Ltd A/C 887565 16,880 shares; HSBC
Global Custody Nominee (UK) Ltd A/C 887577 19,050 shares; HSBC Global Custody
Nominee (UK) Ltd A/C 887589 18,900 shares;  HSBC Global Custody Nominee (UK) Ltd
A/C 887590 17,340 shares; HSBC Global Custody Nominee (UK) Ltd A/C 887607 13,540
shares; HSBC Global Custody Nominee (UK) Ltd A/C 887619 10,518 shares;     HSBC
Global Custody Nominee (UK) Ltd A/C 867116 646,575 shares;  HSBC Global Custody
Nominee (UK) Ltd A/C 867268 601,717 shares; HSBC Global Custody Nominee (UK) Ltd
A/C 867050 2,251,220 shares; RBSTB Nominees designation Sunpen 248,936 shares;
Sun Life International (IOM) Ltd A/C SLI 11 3,001,500 shares; Chase Nominees Ltd
A/C BTO1C 801,188 shares;  Chase Nominees Ltd A/C 00994 1,533,648 shares; Other
Accounts 6,409,827 shares; HSBC Global Custody Nominee (UK) Ltd A/C 880868
3,000,000 shares; HSBC Global Custody Nominee (UK) Ltd A/C 904009 14,900 shares;
  HSBC Global Custody Nominee (UK) Ltd A/C 845029 2,500,000 shares;    HSBC
Global Custody Nominee (UK) Ltd A/C 844359 1,641,999 shares;

Citibank Crest: BAO1F 300,000 shares; HSBC Global Custody Nominee (UK) Ltd
50,000 shares.









5)           Number of shares/amount of stock acquired:

Not known



6)           Percentage of issued class:

Not known



7)           Number of shares/amount of stock disposed:

Not known



8)           Percentage of issued class:

Not known



9)           Class of Security:

Ordinary shares of 25p



10)       Date of Transaction:

Not known



11)       Date company informed:

Letter dated 27/12/02 received 2/1/03



12)       Total holding following this notification:

16,582,765 non-material; 16,029,941 material



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

7.15% non-material; 6.91% material



14)       Any additional information:

N/A



15)       Name of contact and telephone number for queries:

Mr D.J. Coker, Company Secretary tel. [phone]



16)       Name and signature of authorised company official responsible  for
making this notification:

Mr D.J. Coker



17)       Date of notification:

2nd January 2003





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