Holding(s) in Company

BWD Securities PLC
09 June 2003

BWD SECURITIES PLC

Company Announcement

The Company was today informed by HSBC Asset Management (Europe) Limited that,
by virtue of certain discretionary managed portfolio arrangements, it has an
interest in 2,184,033 Ordinary 10p shares of the Company, representing 9.89% of
the issued share capital of that class.

END



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