Holding(s) in Company

Admiral Group PLC
30 September 2004



                       Admiral Group Plc ('the Company')

                   Disclosure of Interest in Share Capital


The Company today received notification in accordance with Sections 198-202 of
the Companies Act 1985 that as at 28th September 2004, Munich Re had a
notifiable interest in 37,479,400 ordinary shares in the Company representing
14.5 % of the fully paid issued share capital.


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