Rule 8.3 - FENNER

FORM 8.3

Lodge with a RIS or Newstrack, if appropriate, and the Takeover Panel. Use separate form for
each class of securities in which dealings have been made.

Date of Disclosure 25 April 2005

DISCLOSURE UNDER RULES 8.1(a), 8.1(b) (i) and 8.3 OF THE CITY CODE ON TAKEOVERS
AND MERGERS

Date of Dealing 22 April 2005

Dealing in FENNER

(1) Class of securities (eg ordinary shares) ORD GBP 0.25

(2) Amount Bought   Amount Sold   Price per Unit
            8,461             0           1.3100

Barclays PLC is party to certain CFD transactions (see below). The resultant holding
includes shares hedged against CFDs (short 363,993 shares).

(3) Resultant total of the same class owned or controlled
(and percentage of class) 3,897,398 (3.59%)

(4) Party making disclosure Barclays PLC

(5) EITHER (a) Name of purchaser / vendor (Note 1)

(b) if dealing for discretionary clients, name of fund management organisation
Barclays PLC

(6) Reason for disclosure (Note 2)

(a) associate of (i) offeror (Note 3) NO
(ii) offeree NO

Specify which category or categories of associate (1-8 overleaf)

(b) Rule 8.3 (I.e disclosure because of ownership or control of 1% or more of the class
of relevant securities dealt in) YES

Signed for and on behalf of the party named in (4) above
Geoff Smith
Telephone and extension number
0207 699 2305

Form 8 Enclosure

A purchaser of a CFD will realise a gain if the price of the underlying security goes up. A seller
of a CFD will realise a gain if the price of the underlying security goes down. The CFD contracts
are open ended and there is no rollover into new contracts.

Contracts for Differences
CFD
Long /
Short    Trade Date    Buy/Sell    Quantity   Open Price
         17/06/2004           B      22,510       1.0739
         29/06/2004           B      59,570       1.1088
         01/07/2004           B      21,776       1.1150
         12/07/2004           B     150,000       1.1450
         23/07/2004           B      21,918       1.0900
         28/07/2004           B      14,948       1.0900
         31/08/2004           B      21,622       1.0900
         03/09/2004           B      92,719       1.0850
         24/11/2004           S      19,532       1.2950
         05/01/2005           S      11,366       1.2112
         06/01/2005           S      14,704       1.2412
         11/01/2005           S     110,000       1.2478
         12/01/2005           S       8,000       1.2700
         13/01/2005           S       5,000       1.2600
         14/01/2005           S      35,535       1.2587
         20/01/2005           S      57,900       1.3713
         20/01/2005           S      44,317       1.3713
         26/01/2005           S      46,090       1.4314
         26/01/2005           S      52,619       1.4314
         03/02/2005           S      17,992       1.4264
         09/02/2005           S     159,353       1.4264
         16/02/2005           S      30,253       1.4100
         24/02/2005           S     101,572       1.3813
         02/03/2005           S      54,823       1.3763