Holding(s) in Company

BWD Securities PLC
04 February 2003

BWD SECURITIES PLC

Company Announcement

The Company was informed on 3 February 2003 by HSBC Asset Management (Europe)
Limited that by virtue of certain discretionary managed portfolio agreements, it
has an interest in 2,412,463 Ordinary 10p shares of the Company, representing
10.93% of the issued share capital of that class.

END


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