Holding(s) in Company

Caledonia Investments PLC
10 January 2003

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Name of company

Caledonia Investments plc

2. Name of shareholder having a major interest

BriTel Fund Trustees Limited, a company controlled by the trustees of the BT Pension Scheme

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

Material interest of person named in 2 above

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

BriTel Fund Nominees Ltd - 279,137; Chase Nominees Ltd - 5,421,461; Direct Nominees A/C 102 - 127,410

5. Number of shares / amount of stock acquired

Not advised

6. Percentage of issued class


7. Number of shares / amount of stock disposed


8. Percentage of issued class


9. Class of security

Ordinary 5p

10. Date of transaction

Not advised


11. Date company informed

9 January 2003

12. Total holding following this notification

5,828,008 shares

13. Total percentage holding of issued class following this notification

8.03%

14. Any additional information

Hermes Focus Asset Management has a material interest in 5,421,461 of the shares referred to in 8 above as
general partner of various partnerships managed by Hermes SLP Limited and Lens Investors (UK) LLC.

15. Name of contact and telephone number for queries

G P Denison 020 7802 8080

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

G P Denison, Company Secretary

Date of notification
10 January 2003


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