Cancellation of listing

Ascot PLC
25 June 2001


                     Ascot plc ('Ascot' or the 'Company')

                   Application for cancellation of listing

Following the offer, made on 30 March 2001 by J.P. Morgan plc, on behalf of
Dow UK plc, for the entire issued and to be issued ordinary share capital of
Ascot being declared unconditional in all respects on 1 June 2001, notices
pursuant to section 429(4) of the Companies Act 1985 were sent to
non-assenting shareholders on 15 June 2001.  The compulsory acquisition period
expires six weeks thereafter and, assuming the successful completion of the
compulsory acquisition process, Ascot will become a wholly-owned subsidiary of
Dow UK plc.  Accordingly, the Company announces that it has today applied for
the listing of its ordinary shares on the Official List to be cancelled as
soon as possible.