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Friday 31 October, 2003

Deutsche Asset Mgmnt

SAR - Ultraframe

Deutsche Asset Management Group Ltd
31 October 2003



                                                                      FORM SAR 5

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

                                                   Date of disclosure 31/10/2003

DISCLOSURE UNDER NOTE 3 ON RULE 5 OF THE RULES GOVERNING SUBSTANTIAL
ACQUISITIONS OF SHARES ('SARs')

Date of sale 30/10/2003

Sale of... ULTRAFRAME

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

(eg ordinary
shares)



               16,170 Shares      ....................................

ORD GBP0.25







    (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)



18,503,143 (18.9996 %)



                                                               18.9996%


(3) Party making disclosure DEUTSCHE ASSET MANAGEMENT GROUP LIMITED

(4) (a) Name of person selling 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 ......................................................................................

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

(Also print name of signatory) HUGH MALE

Telephone and extension number 020 7545 7153
                     ______________________________________

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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