Holding(s) in Company

BWD Securities PLC
01 September 2003


BWD SECURITIES PLC

Company Announcement

The Company was informed on 29 August 2003 by Schroder Investment Management
Limited that, by virtue of certain discretionary investment management
agreements, it has an interest in 3,247,153 Ordinary 10p shares of the Company,
representing 14.70% of the issued share capital of that class.


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