Holding in Company

Kern River PLC
19 October 2000

                                 SCHEDULE 10

                  NOTIFICATION OF MAJOR INTERESTS IN SHARES


1)   Name of company

Kern River plc

2)   Name of shareholder having a major interest

Swan Corporation 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

Beneficial

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

As in 2

5)   Number of shares/amount of stock acquired

1,097,267 Ordinary Shares

6)   Percentage of issued class

9.54%

7)   Number of shares/amount of stock disposed



8)   Percentage of issued class



9)   Class of security

Ordinary Shares

10)  Date of transaction

18 October 2000

11)  Date company informed

19 October 2000

12)  Total holding following this notification

1,198,267 Ordinary Shares

13)  Total percentage holding of issued class following this notification

10.42%

14)  Any additional information



15)  Name of contact and telephone number for queries

G Butterfield, Company Secretary  01902 456767

16)  Name and signature of authorised company official responsible for
     making this notification
As in 15
     Date of notification: 19 October 2000