Holding(s) in Company

Herald Investment Trust PLC
03 February 2004


                          Herald Investment Trust PLC

                            Substantial Shareholding

Herald Investment Trust PLC have today been informed by Henderson Global
Investors that they no longer hold a notifiable interest in the Company.

                                                           Baillie Gifford & Co.

                                                             Company Secretaries

                                                               03 February 2004.


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