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White Knight Inv PLC (PAF)

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Tuesday 09 October, 2001

White Knight Inv PLC

Holding in Company

White Knight Investments PLC
9 October 2001


Sunvest Investment Corporation Limited ('Sunvest') has advised the company
that on 4 October 2001, it has agreed to acquire 7,500,000 Ordinary 1p shares
in White Knight Investments Plc ('White Knight') from Tarragona Investment
Group ('Tarragona') as a result of the option previously granted by Tarragona
on 4 June 2001.

As a result, Sunvest owns 23,500,000 Shares in White Knight representing
18.08% of the shareholding.  In addition, Sunvest still has an option on
7,500,000 Shares currently held by Tarragona.  Accordingly, Sunvest's
interests in the shares of White Knight remains at 31,000,000 shares
representing 23.85%.

Following this transaction, Tarragona has reduced their interest to 8,060,000
Shares (of which 7,500,000 are under option to Sunvest) representing 6.2%.

8 October 2001