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Thursday 23 October, 2003

Deutsche Asset Mgmnt

SAR - Ultraframe PLC

Deutsche Asset Management Group Ltd
23 October 2003



                                                                      FORM SAR 3

Lodge with a RIS or Newstrack and the Takeover Panel. A copy must also be sent
to the company the shares of which are acquired.

                                                   Date of disclosure 23/10/2003

   DISCLOSURE UNDER RULE 3 OF THE RULES GOVERNING SUBSTANTIAL ACQUISITIONS OF
                                SHARES ('SARs')

Date of acquisition 22/10/2003

Acquisition in          ULTRAFRAME

(1) Class of voting         Number of shares/   If rights over shares acquired, as
    shares                  rights over shares  opposed to the shares themselves,
(eg ordinary shares)           acquired         specify nature of rights


ORD GBP0.25                   27,377 shares       ...............................


(2) Resultant total           Resultant total holding of        Total
    holding of voting shares  rights over shares (and % of      percentage
    (and % of total voting    total voting shares in
    shares in issue)          issue)



18,528,983 (19.0262%)                                         19.0262 %



 3. Party making disclosure DEUTSCHE ASSET MANAGEMENT GROUP LIMITED

(4) (a) Name of person acquiring shares or rights over shares

DEUTSCHE ASSET MANAGEMENT GROUP LIMITED

  and, if different, beneficial owner ......................................

 (b) Names of any other persons acting by

  agreement or understanding (see SAR 5) ...................................

Signed, for and on behalf of the party named in (3) above ..................

(Also print name of signatory) HUGH MALE

Telephone and extension number 0207 545 7153
                     ______________________________________

        Note. Under SAR 5, the holdings of and acquisitions by persons acting by
        agreement or understanding must be aggregated and treated as a holding
        of or acquisition by one person. Note 3 on SAR 5 requires persons who
        must aggregate holdings to disclose certain disposals.

For full details of the SARs disclosure requirements, see Rules 3 and 5 of the
SARs. If in doubt, contact the Panel on Takeovers and Mergers, Monitoring
Section, Tel. No: 020 7638 0129.
E-mail: monitoring@disclosure.org.uk




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