Holding(s) in Company

Derwent Valley Holdings PLC
18 November 2002


                                                     SCHEDULE 10

                                      NOTIFICATION OF MAJOR INTERESTS IN SHARES

1)   Name of company:
     DERWENT VALLEY HOLDINGS PLC

2)   Name of shareholder having a major interest:
     STANDARD LIFE INVESTMENTS LIMITED

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:
     N/A

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

5)   Number of shares/amount of stock acquired:
     nil

6)   Percentage of issued class:
     0%

7)   Number of shares/amount of stock disposed:
     421,490 shares

8)   Percentage of issued class:
     0.79%

9)   Class of security:
     5p Ordinary shares

10)  Date of transaction:
     November 5, 2002

11)  Date company informed:
     November 15, 2002

12)  Total holding following this notification:
     2,590,766

13)  Total percentage holding of issued class following this notification:
     4.87%

14)  Any additional information:
     -

15)  Name of contact and telephone number for queries:
     T. J. Kite - 020 7659 3000

16)  Name and signature of authorised company official responsible for making this notification:
     T. J. Kite - Company Secretary

     Date of notification:    November 18, 2002


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