Major Interests In Shares

Bear Stearns Private Equity Limited
01 July 2005



Bear Stearns Private Equity Limited

HSBC Private Bank Building, Rue du Pre, St Peter Port, Guernsey GY1 1LU



1 July, 2005

Regulatory News Service

London Stock Exchange

London

EC2N 1HP

Dear Sir,

BEAR STEARNS PRIVATE EQUITY LIMITED

MAJOR INTERESTS IN SHARES

So far as is known to the Company, the following entities have major interests
in Shares upon the launch of the Company yesterday:

BEAR STEARNS PRIVATE EQUITY LIMITED

MAJOR INTERESTS IN SHARES

So far as is known to the Company, the following entities have major interests
in Shares upon the launch of the Company yesterday:

Zero Dividend Preference Shares                                        No. of Shares  % of ZDP Shares in
                                                                                                   issue

Diversified Strategic Capital                                              9,629,155               29.0%
HSBC Bank plc                                                              4,950,000               14.9%
NCL Investments Ltd                                                        2,400,000                7.2%
Framlington Absolute Growth Fund                                           2,000,000                6.0%
Royal Bank of Canada (Guernsey)                                            2,000,000                6.0%
Framlington Second Dual Trust                                              1,600,000                4.8%
F&C Inv. Funds ICVC III Progressive Growth Fund                            1,411,765                4.3%
Aberdeen Progressive Growth Unit Trust                                     1,176,471                3.5%
No. of ZDP Shares in issue                                                33,148,465              100.0%

Equity Shares                                                          No. of Shares  % of Equity Shares
                                                                                                in issue

Bear Stearns Asset Management Capital Investment Ltd                      13,047,619               39.5%
South Yorkshire Pension Authority                                          5,714,286               17.3%
Migdal Insurance Company Limited                                           3,485,714               10.5%
Diversified Strategic Capital                                              1,086,957                3.3%
No. of Equity Shares in issue                                             33,069,460              100.0%

END


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