EMM Disclosure

ABN AMRO BANK N.V.
                  

FORM 38.5 (SUMMARY)

Lodge with Company Announcements Office and the Panel. Use a separate form for
each class of securities in which dealings have been made.

CONNECTED EXEMPT MARKET-MAKERS:

DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS


Name of EMM:                  ABN AMRO BANK NV London Branch
Date of disclosure:           22 DECEMBER 2004
Contact name:                 KIRIT DEVSHI
Telephone number:             [phone]


Please see attached disclosure of dealings under Rule 38.5 in the securities of
the following companies:

EURONEXT
LONDON STOCK EXCHANGE PLC
SHELL TRANSPORT & TRADING CO PLC ORD 25P (SHEL.L)
WOLVERHAMPTON & DUDLEY BREWERIES PLC


If the attached Rule 38.5 disclosure is to amend a previous disclosure, please
state which element(s) of previous disclosure was incorrect:




In the case of option business or dealings in derivatives full details should be
given on a separate sheet so that the nature of the dealings can be fully
understood. For options this include the number of securities under option, the
exercise period (or in the case of exercise, the exercise date), the exercise
price and any option money paid or received. For derivative this should include,
at least, the number of reference securities to which they relate (when
relevant), the maturity date (or if applicable the closing out date) and the
reference price.

For full details of the disclosure requirements see Rules 8 and 38 of the Code.
If in doubt contact the Monitoring Section of the Panel, Tel. No: 020 7638 0129

CONNECTED EXEMPT MARKET-MAKERS:

DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS


Dealing in (name of company):                   EURONEXT
Class of security:                              EUR 1
Date of disclosure:                             22 DECEMBER 2004
Date of dealing:                                21 DECEMBER 2004
Name of EMM:                                    ABN AMRO BANK NV London Branch
Name of offeree/offeror with whom connected:    EURONEXT
Total number of securities purchased:           367
Highest price paid*                             21.8300 EUR
Lowest price paid*                              21.8300 EUR
Total number of securities sold:                367
Highest price received*                         21.8300 EUR
Lowest price received*                          21.8300 EUR


CONNECTED EXEMPT MARKET-MAKERS:

DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS


Dealing in (name of company):                   LONDON STOCK EXCHANGE PLC
Class of security:                              ORD  5/5 6P
Date of disclosure:                             22 DECEMBER 2004
Date of dealing:                                21 DECEMBER 2004
Name of EMM:                                    ABN AMRO BANK NV London Branch
Name of offeree/offeror with whom connected:    EURONEXT
Total number of securities purchased:           2,180
Highest price paid*                             5.7525 GBP
Lowest price paid*                              5.7525 GBP
Total number of securities sold:
Highest price received*
Lowest price received*


CONNECTED EXEMPT MARKET-MAKERS:

DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS

(SHEL.L)


Dealing in (name of company):                   SHELL TRANSPORT & TRADING CO PLC
Class of security:                              ORD 25P
Date of disclosure:                             22 DECEMBER 2004
Date of dealing:                                21 DECEMBER 2004
Name of EMM:                                    ABN AMRO BANK NV London Branch
Name of offeree/offeror with whom connected:    ROYAL DUTCH SHELL PLC
Total number of securities purchased:           5,100
Highest price paid*                             4.3359 GBP
Lowest price paid*                              4.3359 GBP
Total number of securities sold:                193,725
Highest price received*                         4.3475 GBP
Lowest price received*                          4.3225 GBP


CONNECTED EXEMPT MARKET-MAKERS:

DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS


Dealing in (name of company):                   WOLVERHAMPTON & DUDLEY BREWERIES PLC
Class of security:                              ORD 29.5P
Date of disclosure:                             22 DECEMBER 2004
Date of dealing:                                21 DECEMBER 2004
Name of EMM:                                    ABN AMRO BANK NV London Branch
Name of offeree/offeror with whom connected:    WOLVERHAMPTON  DUDLEY BREWERIES PLC
Total number of securities purchased:           30,938
Highest price paid*                             11.0283 GBP
Lowest price paid*                              10.9200 GBP
Total number of securities sold:                28,483
Highest price received*                         11.0800 GBP
Lowest price received*                          11.0000 GBP