Holding(s) in Company

Beazley Group PLC
07 October 2003

BEAZLEY GROUP PLC
NOTIFICATION OF MATERIAL SHAREHOLDING

The Board of Beazley Group plc announces that, on 6 October 2003, it received
the following notification of interests in the Company's issued share capital
from AMVESCAP, for itself and as agent for the ICVCs named below:


'Notification concerning realignment of interests in shares


1.         We hereby give notice to the Company, pursuant to the provisions of
section 198 of the Companies Act 1985 (the 'Act'), of the event referred to in
paragraph 3 below.


2.         This notice is given in fulfilment of, and for the express purpose of
discharging the obligations imposed on us and on certain investment companies
with variable capital ('ICVCs') by the said Section and arising out of the
transaction referred to in paragraph 3 below.


3.         Following the recent conversion of unit trusts to ICVCs we ceased to
be interested, within the meaning of Sections 203 and 208 of the Act, in
35,922,305 ordinary shares of 5p each in the capital of the Company.


4.         Immediately following the transaction referred to in paragraph 3
above, we no longer had a notifiable interest (within the meaning of Section 199
(2) of the Act), in the ordinary shares of 5p each in the capital of the
Company.


5.         Immediately following the transaction referred to in paragraph 3
above, the ICVC named below had a notifiable interest (within the meaning of
Section 199(2) of the Act) in the number of ordinary shares set out opposite
their name, the registered holders of such shares being as also indicated below:


ICVC                           Registered Holder       Number of Shares      %


INVESCO UK ICVC Series         HSBC Nominees Limited   28,608,702      (12.47%)


6.                               We would further advise that following the
transaction referred to in paragraph 3 above INVESCO Perpetual High Income Fund
and INVESCO Perpetual UK Growth Fund no longer have a notifiable interest in
your Company.


7.                               None of these shares is beneficially owned by
AMVESCAP. Subsidiary companies of AMVESCAP have a large number of portfolio
management clients for whom they act as investment manager and investment
advisor and by virtue of Section 203 of the Companies Act 1985 AMVESCAP is
deemed to have the same interests in the shares.


8.                               This notification is given by AMVESCAP for
itself and as agent for the ICVCs named above.'


Contact:     Jeremy Gorman
             Company Secretary

Telephone:   [phone]



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