Holding in Company

DERWENT VALLEY HOLDINGS PLC


                    DEALINGS BY SUBSTANTIAL SHAREHOLDERS

1)  NAME OF COMPANY

DERWENT VALLEY HOLDINGS PLC

2)  NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

STANDARD LIFE INVESTMENT

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

NOT KNOWN

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

STANLIFE NOMINEES LIMITED  3,098,925

5)  Number of shares/amount of stock acquired.

N/A

6)  ( N/A %) of issued Class

7)  Number of shares/amount of stock disposed

352,000

8)  (0.66 %) of issued Class

9)  Class of security

5p ORDINARY SHARES

10) Date of transaction

2ND JUNE 1999

11) Date company informed

3RD AUGUST 1999

12) Total holding following this notification

3,098,925

13) Total percentage holding of issued class following this notification

5.84%

14) Any additional information

N/A

15) Name of contact and telephone number for queries

T.J.KITE
0171 486 4848

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

    Date of Notification...3RD AUGUST 1999......