Holding(s) in Company

BWD Securities PLC
27 June 2002


BWD SECURITIES PLC

COMPANY ANNOUNCEMENT



The Company was today informed by HSBC Asset Management (Europe) Limited that by
virtue of certain discretionary managed portfolio agreements, it has an interest
in 4,148,385 Ordinary 10p shares of the Company, representing 18.79% of the
issued share capital of that class.






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