Holding(s) in Company

BWD Securities PLC
27 June 2003

BWD SECURITIES PLC

Company announcement

The Company was today informed by UBS Global Asset Management Holding (No.2)
Limited that, through its subsidiary undertaking UBS Global Asset Management
Life Limited, it has an interest in 664,114 Ordinary 10p shares of the Company,
representing 3.00% of the issued share capital of that class.


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