Holding in Company

Nichols PLC
9 January 2001


Letter to Nichols PLC
Dated 8 January 2001

Companies Act 1985 - Disclosure of Interest in shares

Consequent upon a sale in the market of 45,000 shares on the 04 January 2001, we
now hold the following number of shares which are not subject to a concert party
and will be registered as follows:

Material Interest

HSBC Global Custody Nominee (UK) Ltd A/C 775245      862,352
HSBC Global Custody Nominee (UK) Ltd A/C 357206      605,017

                                                   ---------   -------
                                                   1,467,369    3.96%
                                                   ---------   -------
Please note that this percentage is based on our understanding that your issued
share capital is 37,000,000.

Letter from Legal & General Investment Management Limited