SAR - Hartstone Group plc

North Atlantic Smlr Co Inv Tst PLC
19 January 2004

                                                                      FORM SAR 5



Lodge with a RIS or Newstrack if appropriate and the Takeover Panel.

A copy must also be sent to the company the shares of which are being sold.



Date of disclosure


19 January 2004



DISCLOSURE UNDER NOTE 3 OF RULE 5 OF THE RULES GOVERNING SUBSTANTIAL
ACQUISITIONS OF SHARES ('SARs')



Date of sale


16 January 2004



Sale of (name of company)


Hartstone Group PLC



1. Class of voting shares (eg ordinary shares)


Ordinary shares



Number of shares/rights over shares sold


2,000,000 in total                     Shares                                                  Rights



If rights over shares sold, as opposed to the shares themselves, specify nature
of rights


N/a



2. Resultant total holding of voting shares (and % of total voting shares in
issue)


22,060,000 shares                                        13.92%



Resultant total holding of rights over shares (and % of total voting shares in
issue)


N/a                                                      %



Total percentage


   13.92%



3. Party making disclosure



North Atlantic Smaller Companies Investment Trust PLC


4. (a) Name of person selling shares or rights over shares


As above



and, if different, beneficial owner






(b) Names of any other persons acting by agreement or understanding






Signed, for and on behalf of the party named in (3) above






(Also print name of signatory)


Bonita Dryden, Assistant Company Secretary



Telephone and extension number


020 7747 5681



For full details of the SARs disclosure requirements, see Rules 3 and 5 of the
SARs.  If in doubt, contact the Panel on Takeovers and Mergers, Monitoring
Section, Tel. No: 020 7638 0129. E-mail: [e-mail]


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