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Ultraframe PLC (UTF)

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Monday 21 May, 2001

Ultraframe PLC

Holding in Company

Ultraframe PLC
21 May 2001


Letter to Ultraframe Plc dated 18 May 2001

Further to our letter of 11 May, 2001, and in accordance with sections 198-202
of the Companies Act 1985, we write on behalf of Deutsche Bank AG, to inform you
that, on the basis that the relevant issued share capital of your company is
93,238,174 ordinary shares, Deutsche Bank AG and its subsidiary companies have a

notifiable interest in the shares of 11.27%.  The total interest is in
10,514,568 shares registered in the names and in the amounts as set out in the
schedule below.

Companies within the Group acting as Fund Managers hold some of the shares on
behalf of a number of clients whose portfolios are managed on a discretionary
basis.

Deutsche Bank AG is a corporation domiciled in Frankfurt, Germany, of which
Deutsche Bank AG London is a branch.

Letter from Deutsche Bank AG


SCHEDULE

                                 ULTRAFRAME PLC
                               ORDINARY 25P SHARES

HELD IN CUSTOMER PORTFOLIOS                                     NO. OF SHARES

British Overseas Bank A/C 6951                                       322,000
BT Globenet Nominees                                                  46,648
Clydesdale Bank Custodian Nominees                                    43,700
Deutsche Bank International Ltd                                       43,303
Morgan Nominees                                                    4,518,306
Morgan Nominees CHY                                                  153,100
Morgan Nominees D131                                               2,782,837
Morgan Nominees DGR                                                  280,500
Morgan Nominees SAM                                                   50,776
MSS Nominees                                                         784,976
Nortrust Nominees                                                    100,750
RBSTB Nominees                                                     1,275,481
State Street Nominees                                                112,191

Total                                                             10,514,568