Holding(s) in Company

Avon Rubber PLC
17 July 2002


                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     AVON RUBBER P.L.C

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     SCHRODER INVESTMENT MANAGEMENT LIMITED

3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

     NON-BENEFICIAL INTEREST

4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

     SEE LETTER BELOW

5)   Number of shares/amount of stock acquired.

     122500

6)   (0.441 %) of issued Class

7)   Number of shares/amount of stock disposed

     

8)   ( N/A %) of issued Class

9)   Class of security

     £1 ORDINARY

10)  Date of transaction

     NOT ADVISED

11)  Date company informed

     17.7.2002

12)  Total holding following this notification

     3,948,414
               
13)  Total percentage holding of issued class following this notification

     14.191

14)  Any additional information

     ISSUED SHARE CAPITAL 27,823,944

15)  Name of contact and telephone number for queries

     C. L. MARTIN - 01225 861150

16)  Name and signature of authorised company official responsible for 
     making this notification

     Date of Notification ...17.7.2002.......



LETTER TO: AVON RUBBER

LETTER DATED 16 JULY 2002


£1.00 ORDINARY SHARES ('SHARES')

We write to advise you that we, Schroder Investment Management Limited, have an
interest in 3,948,414 shares which are held in portfolios managed by us on a
discretionary basis for clients under investment management agreements,

We believe that our interest represents some 14.191% of the total number of 
shares in issue, namely 27,823,944.

Included in this figure are:-


(i)    3,825,914 shares held in (a) unit trust(s) operated and managed by an 
       affiliated company, Schroder Unit Trusts Limited (SUTL), and registered 
       or to be registered in the name of Chase Nominees Limited,

(ii)   30,000 shares registered or to be registered in the name of our 
       wholly-owned subsidiary nominee company, Schroder Nominees Limited 
       (Schroder Nominees),

(iii)  92,500 shares neither registered nor to be registered in the name of 
       Schroder Nominees Limited. The registration details are shown on the 
       schedule below.

This notification is made to you:-

(a)    in respect of our interest as investment managers,

(b)    on behalf of SUTL in relation to the interests they are treated as having 
       respectively under the Companies Act 1985 (the Act), and

(c)    on behalf of Schroders plc., our holding company, which is treated as 
       having an interest in all of the above shares under the Act by virtue of 
       its ownership of SUTL and ourselves.


LETTER FROM: SCHRODER INVESTMENT MANAGEMENT LIMITED



                             £1 ORDINARY SHARES

                                  SCHEDULE

REGISTRATION                                              AMOUNT

MSS Nominees Limited a/c: 759371                          50,000
Chase Nominees Limited                                    25,000
RBSTB Nominees Limited                                    17,500

                                                          92,500




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