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Tuesday 25 May, 2010

Gruss Asset Man

Form 8.3 - Morse Plc

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
Rule 8.3 of the Takeover Code (the "Code")

1.   KEY INFORMATION

(a) Identity of the person whose                 Gruss Asset Management
    positions/dealings are being disclosed:      LLP
(b) Owner or controller of interests and short
    positions disclosed, if different from
    1(a):
    The naming of nominee or vehicle companies
    is insufficient
(c) Name of offeror/offeree in relation to
    whose relevant securities this form          Morse Plc
    relates:
    Use a separate form for each
    offeror/offeree
(d) If an exempt fund manager connected with an
    offeror/offeree, state this and specify
    identity of offeror/offeree:
(e) Date position held/dealing undertaken:       24th May 2010
(f) Has the discloser previously disclosed, or      NO
    are they today disclosing, under the Code
    in respect of any other party to this
    offer?
                                                    If YES, specify which:


2.   POSITIONS OF THE PERSON MAKING THE DISCLOSURE

(a)  Interests and short positions in the relevant securities of the offeror or
offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:

                               Interests             Short positions
                                Number        %          Number         %
(1) Relevant
    securities owned
    and/or controlled:
(2) Derivatives (other   3,500,000      2.69%
    than options):
(3) Options and
    agreements to
    purchase/sell:

    TOTAL:               3,500,000      2.69%


All interests and all short positions should be disclosed.

Details of any open derivative or option positions, or agreements to purchase or
sell relevant securities, should be given on a Supplemental Form 8 (Open
Positions).

(b)  Rights to subscribe for new securities (including directors' and other
executive options)

Class of relevant security in
relation to which subscription right
exists:
Details, including nature of the
rights concerned and relevant
percentages:

If there are positions or rights to subscribe to disclose in more than one class
of relevant securities of the offeror or offeree named in 1(c), copy table 2(a)
or (b) (as appropriate) for each additional class of relevant security.

3.   DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

(a)  Purchases and sales

       Class of      Purchase          Number of   Price per unit
       relevant         /sale         securities
       security


(b)  Derivatives transactions (other than options)

   Class of       Product    Nature of dealing     Number of       Price
   relevant   description                 e.g.     reference    per unit
   security      e.g. CFD    opening/closing a    securities
                                    long/short
                                     position,
                           increasing/reducing
                                  a long/short
                                      position
Ordinary     CFD           Increasing a long    1,500,000    50.25p
Shares                     position


(c)  Options transactions in respect of existing securities

(i)  Writing, selling, purchasing or varying

Class of   Product   Writing,     Number  Exercise     Type   Expir  Option
relevant                              of     Price     e.g.       y   Money
security  descript  purchasin             per unit             date   paid/
               ion         g,  securitie           American         receive
              e.g.   selling,          s                  ,               d
              call    varying   to which                                per
            option       etc.     option           European            unit
                                 relates               etc.


(ii) Exercising

   Class of      Product      Number of      Exercise
   relevant  description     securities         price
   security    e.g. call                     per unit
                  option



(d)  Other dealings (including subscribing for new securities)

   Class of      Nature of       Details      Price per
   Relevant   dealing e.g.                         unit
   security  subscription,                          (if
                conversion                  applicable)


The currency of all prices and other monetary amounts should be stated.

Where there have been dealings in more than one class of relevant securities of
the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as
appropriate) for each additional class of relevant security dealt in.

4.   OTHER INFORMATION

(a)  Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or
understanding, formal or informal, relating to relevant securities which may be
an inducement to deal or refrain from dealing entered into by the person making
the disclosure and any party to the offer or any person acting in concert with a
party to the offer:
If there are no such agreements, arrangements or understandings, state "none"

NONE

(b)  Agreements, arrangements or understandings relating to options or
derivatives

Details of any agreement, arrangement or understanding, formal or informal,
between the person making the disclosure and any other person relating to:
(i)  the voting rights of any relevant securities under any option; or
(ii) the voting rights or future acquisition or disposal of any relevant
securities to which any derivative is referenced:
If there are no such agreements, arrangements or understandings, state "none"

NONE


(c)  Attachments

Is a Supplemental Form 8 (Open Positions) attached?         NO

Date of disclosure:  25th May 2010
Contact name:        Paul Lodge
Telephone number:    +44 207 493 3004

Public disclosures under Rule 8 of the Code must be made to a Regulatory
Information Service and must also be emailed to the Takeover Panel at
[email protected]  The Panel's Market Surveillance Unit is available
for consultation in relation to the Code's dealing disclosure requirements on
+44 (0)20 7638 0129.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.                                      

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