Holding in Company

Pendragon PLC
18 January 2001

PENDRAGON PLC ('Pendragon')

On 17 January 2001 The Fleming Mercantile Investment Trust PLC notified the
Board of Pendragon that following recent transactions its notifiable interest in
the ordinary shares of Pendragon had decreased to 2,100,101 shares, representing
3.44% of the total issued share capital of Pendragon.