Holding in Company

Nichols PLC
9 February 2001

Letter to Nichols plc dated 7 February 2001

Companies Act 1985 - Disclosure of Interest in shares

Consequent upon a sale in the market of 69,000 shares on 06 February 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 887711         407,105
HSBC Global Custody Nominee (UK) Ltd A/c 775245         455,247
HSBC Global Custody Nominee (UK) Ltd A/c 357206         238,017
                                                      ------------    --------
                                                      1,100,369        2.97%
                                                      ------------    --------

Please note this percentage is based on our understanding that your issued
share capital is 37,000,000.

Letter from Legal & General Investment Management Limited