Holding in Company

Ocean Wilsons Holdings Ld
10 May 2001

                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS

1)   NAME OF COMPANY

OCEAN WILSONS HOLDINGS LIMITED


2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

PETER CUNDILL & ASSOCIATES (BERMUDA) LTD


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

AS ABOVE


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

CHASE NOMINEES    359,000


5)   Number of shares/amount of stock acquired.



6)   (  - %) of issued Class


7)   Number of shares/amount of stock disposed

1,017,573


8)   ( 2.8 %) of issued Class


9)   Class of security

ORDINARY SHARES


10)  Date of transaction

9 MAY 2001


11)  Date company informed

10 MAY 2001


12)  Total holding following this notification

359,000
               
              
13)  Total percentage holding of issued class following this notification

1.0%


14)  Any additional information

NONE


15)  Name of contact and telephone number for queries

K. MIDDLETON   55.21.206-4160


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

     Date of Notification .... 10 MAY 2001 ...