Holding(s) in Company

Headlam Group PLC
15 June 2004

                               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, no
longer have an interest in the above mentioned shares.  It ceased to be a
notifiable interest for the purposes of Part VI of the Companies Act 1985 (the
Act) since it represents less than 10% of the nominal value of that relevant
share capital, which we understand to be 85,383,692 shares.

This notification is made to you in respect of our own interest as investment
managers and also on behalf of

(a)                 Schroder Unit Trusts Limited, an affiliated company

(b)                 Schroder Investment Management North America Limited, a
                    wholly-owned subsidiary,

(c)                 Schroder Investment Management North America Inc., an
                    affiliated company, and

(d)                 Schroders plc, our holding company,

in relation to any interests they may have or be treated as having respectively
under the Act.



15 June 2004

End


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