Holding in Company

CLS Holdings PLC
16 November 2001

LETTER TO CLS HOLDINGS PLC DATED 15 NOVEMBER 2001


Re: S.198 Companies Act 1985: as amended by The Disclosure of Interest in Shares
(Amendment) Regulations 1993

I refer to my letter informing you that Phillips & Drew Life Limited, a 
subsidiary of UBS Asset Management Holding (No.2) Limited, (which is also 
treated as having an interest in the above shares) had a notifiable interest in 
the Company. Phillips & Drew Life Limited and UBS Asset Management Holding 
(No.2) Limited wish to inform you that they no longer have a notifiable Interest
in the ord 25p share capital of the Company.

FROM: D FITZHARRIS
PHILIPS & DREW