Holding in Company

Morgan Crucible Co PLC
7 January 2002

                                 SCHEDULE 10


                  NOTIFICATION OF MAJOR INTERESTS IN SHARES




 1. Name of company:

    The Morgan Crucible Company plc


 2. Name of shareholder having a major interest:

    AXA S.A.


 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 interest of the shareholder named in 2 and its subsidiaries.
 4. Name of the registered holder(s) and, if more than one holder, the number
    of shares held by each of them:

    HSBC Global Custody Nominee (UK) Ltd A/C 845315 5,988 shares; HSBC Global
    Custody Nominee (UK) Ltd A/C 845017 1,200,000 shares; Custody Nominee (UK)
    Ltd A/C 777043 99,027 shares; HSBC Global Custody Nominee (UK) Ltd A/C
    777086 41,796 shares; HSBC Global Custody Nominee (UK) Ltd A/C 777094
    30,000 shares; HSBC Global Custody Nominee (UK)Ltd A/C 777167 37,580
    shares; HSBC Global Custody Nominee (UK)Ltd A/C 785078 8,038 shares; HSBC
    Global Custody Nominee (UK) Ltd A/C 873426 28,900 shares; HSBC Global
    Custody Nominee (UK) Ltd A/C 867815 1,108,484 shares; HSBC Global Custody
    Nominee (UK) Ltd A/C 867396 1,687,683 shares; HSBC Global Custody Nominee
    (UK) Ltd A/C 867530 200,000 shares; HSBC Global Custody Nominee (UK) Ltd A
    /C 867372 5,153,862 shares; HSBC Global Custody Nominee (UK) Ltd A/C
    887553 9,720 shares; HSBC Global Custody Nominee (UK) Ltd A/C 887565
    10,518 shares; HSBC Global Custody (UK) Ltd A/c 887577 10,718 shares; HSBC
    Global Custody Nominee (UK) Ltd A/C 887589 10,718 shares; HSBC Global
    Custody Nominee (UK) Ltd A/C 887590 10,518 shares; HSBC Global Custody
    Nominee (UK) Ltd A/C 887607 10,548 shares; HSBC Global Custody Nominee
    (UK) Ltd A/C 887619 10,518 shares; HSBC Global Custody Nominee (UK) Ltd A/
    C 776934 3,157,962 shares; HSBC Global Custody Nominee (UK) Ltd A/C 776950
    10,590 shares; HSBC Global Custody Nominee (UK) Ltd A/C 867116 646,575
    shares; HSBC Global Custody Nominee (UK) Ltd A/C 867268 601,717 shares;
    HSBC Global Custody Nominee (UK) Ltd A/C 867050 2,251,220 shares; RBSTB
    Nominees designation Sunpen 60,536 shares; Sun Life International Isle of
    Man Ltd A/C SLI 11 1,500 shares; Chase Nominees Ltd A/C BTO1C 801,188
    shares; AXA Sun Life plc 4,780,391 shares; Chase Nominees Ltd A/C 00994
    1,937,448 shares; Other Accounts 2,685,044 shares


 5. Number of shares/amount of stock acquired:

    Not known
 6. Percentage of issued class:

    Not known
 7. Number of shares/amount of stock disposed:

    Not known
 8. Percentage of issued class:

    Not known
 9. Class of Security:

    Ordinary shares of 25p
10. Date of Transaction:

    Not known
11. Date company informed:

    Letter dated 4/1/2002 received 7/1/2002
12. Total holding following this notification:

    6,064,821 non-material; 20,543,966 material
13. Total percentage holding of issued class following this notification:

    2.61% non-material; 8.86% material
14. Any additional information:

    Not known
15. Name of contact and telephone number for queries:

    Mrs E. Marriner, Assistant Company Secretary tel. [phone]
16. Name and signature of authorised company official responsible for making
    this notification:

    Mrs E. Marriner
17. Date of notification:


        7th January 2002