SAR - UCM Group Plc

Rights and Issues Inv Trust PLC
22 April 2005


                                                                      FORM SAR 3

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 acquired.


Date of disclosure

22 April 2005


DISCLOSURE UNDER RULE 3 OF THE RULES GOVERNING

SUBSTANTIAL ACQUISITIONS OF SHARES ('SARs')


Date of acquisition

8 April 2005


Acquisition in (name of company)

UCM GROUP PLC


1. Class of voting shares (eg ordinary shares)

ORDINARY


Number of shares/rights over shares acquired

475,000   Shares                         Rights


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


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

4,035,511   16.87 %


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

%


Total percentage

%


3. Party making disclosure

Discretionary Unit Fund Managers Ltd

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

Rights and Issues Investment Trust Plc 2,500,000 (10.45%)

Discretionary Unit Fund            1,535,511 ( 6.42%)


and, if different, beneficial owner


(b) Names of any other persons acting by agreement or understanding (see SAR 5)

Discretionary Unit Fund  and Rights and Issues Investment Trust Plc


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

Nariman Ghandhi

(Also print name of signatory)


Telephone and extension number

020-7415-4130
          
Note.     Under SAR 5, the holdings of and acquisitions by persons acting by
          agreement or understanding must be aggregated and treated as a holding 
          of or acquisition by one person. Note 3 on SAR 5 requires persons who 
          must aggregate holdings to disclose certain disposals.

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.

Email:[e-mail]



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