Holding(s) in Company

Paragon Group Of Companies PLC
23 January 2004

Letter to RNS

                              HOLDING IN COMPANY

We have today received notification from Schroder Investment Management Limited
to advise that they, and their affiliated companies, now hold 17,869,351
ordinary shares of 10p each in The Paragon Group of Companies PLC.  The holding
represents 14.983% of our issued capital.

Enquiries:

John Gemmell, Company Secretary
0121 712 2075

From Paragon Group of Companies PLC






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