Holding in Company

TBI PLC
22 September 2000


Letter to: TBI Plc

Re: S.198 Companies Act 1985: as amended by The Disclosure of Interest in Shares
(Amendment) Regulations 1993


I refer to my letter informing you that Phillips & Drew Life Limited, a
subsidiary of UBS Asset Management Holding (No.2) Limited, (which is also
treated as having an interest in the above shares) had a notifiable interest in
the Company.  Phillips & Drew Life Limited and UBS Asset Management Holding (No.
2) Limited wish to inform you that they no longer have a notifiable interest in
the ord 10p share capital of the Company.


Letter from B. Cassidy, Legal & Compliance Department, Phillips & Drew