Holding(s) in Company

Headlam Group PLC
4 July 2002

Headlam Group plc - DISCLOSURE OF INTEREST IN SHARES

Headlam Group plc has today received the following notification in respect of
notifiable interests in the ordinary voting shares of 5p of the company.

We write to advise you that we, Schroder Investment Management Limited, have an
interest in 8,963,567 shares which are held in portfolios managed by us on a
discretionary basis for clients under investment management agreements.

Included in this figure are:-

 i. 7,373,567 shares held in (a) unit trust(s) operated and managed by an
    affiliated company, Schroder Unit Trusts Limited (SUTL), and registered or
    to be registered in the name of Chase Nominees Limited
ii. 1,590,000 shares neither registered nor to be registered in the name of
    Schroder Nominees Limited. The registration details are shown below;

                        Registration                             Amount
Chase Nominees Limited                                            640,000
Imperial Pensions Nominees Limited                                600,000
Nortrust Nominees Limited                                         350,000

TOTAL                                                           1,590,000

 Our interest represents some 10.656% of the total number of shares in issue,
namely 84,115,305

This notification is made to you:-

 a. in respect of our interest as investment managers,
 b. on behalf of SUTL in relation to the interests they are treated as having
    respectively under the Companies Act 1985 (the Act), and
 c. on behalf of Schroders plc., our holding company, which is treated as having
    an interest in all of the above shares under the Act by virtue of its
    ownership of SUTL and ourselves.

4 July 2002

End



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