Holding in Company

CLS Holdings PLC
17 September 2001


Notification pursuant to s198 Companies Act 1985 ('the Act')

Dresdner Kleinwort Wasserstein Group Limited ('DrKWG') is an indirect subsidiary
of Allianz AG.

The shares in DrKWG are held by Dresdner Investments (UK) Limited ('Dresdner 
Investments'), a direct subsidiary of Zenon Beteiligungs GmbH ('Zenon'), a 
direct subsidiary of Dresdner Bank AG. Dresdner is a direct subsidiary of 
Allianz Finanzbeteiligungs GmbH ('Allianz Finanz') which is itself a direct 
subsidiary of Allianz AG.

Dresdner RCM Global Investors (UK) Limited ('DRCM') is an indirect subsidiary of
Dresdner. The shares in DRCM are held by Dresdner Asset Management (UK) Limited 
('DREAM'), which is itself a direct subsidiary of Dresdner. As a result of 
s203(2) of the Act Allianz AG, Allianz Finanz, Dresdner and DREAM are interested
in the CLS Holdings plc ordinary 25p shares in which DRCM are interested.

DrKWG is the holding company of Kleinwort Benson Investment Management Holdings 
Limited ('KBIMH'), together with its subsidiaries. As a result of s203(2) of the
Act, Allianz AG, Allianz Finanz, Dresdner, Dresdner Investments, Zenon and DrKWG
are interested in the CLS Holdings plc ordinary 25p shares in which KBIMH 
together with its subsidiaries are interested.

Following your recent reduction of issued share capital, we hereby notify you 
that the combined disclosable interest of Allianz AG, amounts to 18,997,722 
shares representing 18.083% (Dresdner previously 17.446%) of the ordinary issued
share capital of 105,058,888 shares issued by CLS Holdings plc, as advised by 
you.

The present position in respect of the disclosable interests of the subsidiaries
of Allianz is as follows: -

-     DRCM and DREAM are interested in 103,668 shares representing 0.099% of    
      your issued share capital. As mentioned above DREAM is the parent company 
      of DRCM and its interest arises as a result of s203(2) of the Act.

-     Kleinwort Benson (Guernsey) Trustees Limited is interested in 18,894,054  
      shares representing 17.984% of the issued capital. 

-     Kleinwort Benson Channel Islands Limited, KBIM International Limited and  
      KBIMH are interested in 18,894,054 shares representing 17.984% of the     
      issued capital. The interests of these companies arise as a result of     
      s203(2) of the Act.

Whilst these shares are not beneficially held, we are advised that, in certain 
circumstances, we are required to disclose these shareholdings pursuant to the 
Act.

This announcement is made by DrKWG on behalf of Allianz AG and its subsidiaries.