Rule 8.3 - London Stock Exchange - Amendment

Trafalgar Asset Managers Ltd.
                  FORM 8.3 DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR
MORE (Rule 8.3 of the City Code on Takeovers and Mergers)

1. KEY INFORMATION

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Name of person dealing (Note 1)           TRAFALGAR ASSET MANAGERS LTD
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Company dealt in                          London Stock Exchange - Amendment
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Class of relevant security to which the   Ordinary
 dealings being disclosed relate (Note 2)
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Date of dealing                           5 January 2007
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2. INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE

(a) Interests and short positions (following dealing) in the class of relevant
security dealt in (Note 3)

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                                                       Long                          Short
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                                          Number (%)                    Number (%)
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(1) Relevant securities
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(2) Derivatives (other than options)      819,866 0.38 %
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(3) Options and agreements to
 purchase/sell                            5,300,000 2.49%               1,800,000 0.84%
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Total                                     6,119,866 2.87 %              1,800,000 0.84%
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(b) Interests and short positions in relevant securities of the company, other
than the class dealt in (Note 3)

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       Class of relevant security:                     Long                          Short
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                                          Number (%)                    Number (%)
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(1) Relevant securities
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(2) Derivatives (other than options)
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(3) Options and agreements to
 purchase/sell
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Total
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(c) Rights to subscribe (Note 3)

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Class of relevant security:               Details
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3. DEALINGS (Note 4)

(a) Purchases and sales

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Purchase/sale                      Number of securities              Price per unit (Note 5)
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(b) Derivatives transactions (other than options)

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Product name,       Long/short (Note 6)    Number of securities (Note 7)   Price per unit (Note 5)
e.g. CFD
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CFD                 Long                   225,000                         12.83030
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CFD                 Long                   100,000                         12.8392
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(c) Options transactions in respect of existing securities (i) Writing, selling,
purchasing or varying

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Product name,      Writing,        Number of          Exercise  Type, e.g.   Expiry    Option money
e.g. call option    selling,        securities to     price      American,   date      paid/received
                    purchasing,     which the option             European               per unit (Note
                    varying etc.    relates (Note 7)             etc.                   5)
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LSE LN 3/07 Call   purchase                                     American
1350                               100,000            1350p                  16/03/07  0.46
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LSE LN 3/07 Call   purchase                                     American
1350                               250,000            1350p                  16/03/07  0.46
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LSE LN 3/07 Call   purchase                                     American
1350                               900,000            1350p                  16/03/07  0.46
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LSE LN 3/07 Call   purchase                                     American
1350                               2,000,000          1350p                  16/03/07  0.40
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LSE LN 3/07 Put    purchase                                     American
1200                               100,000            1200p                  16/03/07  0.24
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LSE LN 3/07 Put    purchase                                     American
1200                               250,000            1200p                  16/03/07  0.24
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LSE LN 3/07 Put    purchase                                     American
1200                               900,000            1200p                  16/03/07  0.24
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(ii) Exercising

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Product name, e.g. call option     Number of securities              Exercise price per unit (Note 5)
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(d) Other dealings (including new securities) (Note 4)

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Nature of transaction (Note 8)     Details                           Price per unit (if applicable) (Note
                                                                      5)
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4. OTHER INFORMATION

Agreements, arrangements or understandings relating to options or derivatives

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Full details of any agreement, arrangement or understanding between the person disclosing and any other
 person relating to the voting rights of any relevant securities under any option referred to on this
 form or relating to the voting rights or future acquisition or disposal of any relevant securities to
 which any derivative referred to on this form is referenced. If none, this should be stated.
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Is a Supplemental Form 8 attached? (Note 9) NO

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Date of disclosure                                          8 January 2007
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Contact name                                                Jonathan Ward
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Telephone number                                            020 7434 1234
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If a connected EFM, name of offeree/offeror with which
 connected
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If a connected EFM, state nature of connection (Note 10)
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Notes

The Notes on Form 8.3 can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk

SUPPLEMENTAL FORM 8

    DETAILS OF OPEN POSITIONS (This form should be attached to Form 8.1, Form
                     8.1(b)(ii) or Form 8.3, as appropriate)

OPEN POSITIONS (Note 1)

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Product name,      Written or    Number of securitiesExercise price  Type, e.g.   Expiry date
e.g. call option    purchased     to which the option (Note 2)        American,
                                  or derivative                       European
                                  relates                             etc.
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LSE LN 3/07 Call   Purchase                                          American
 1350                            5,300,000           1350p                        16/03/07
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LSE LN 3/07 Put    Purchase                                          American
 1200                            1,800,000           1200p                        16/03/07
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Notes

1. Where there are open option positions or open derivative positions (except
for CFDs), full details should be given. Full details of any existing agreements
to purchase or to sell should also be given on this form.

2. For all prices and other monetary amounts, the currency must be stated.

For details of the Code's dealing disclosure requirements, see Rule 8 and its
Notes which can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk