Holding in Company

Smith(David S)(Holdings) PLC
3 July 2001


LETTER TO:  SMITH (DAVID S) HOLDINGS PLC
29 June 2001

Pursuant to Section 198 of the Companies Act 1985, Section 198, as amended, on
behalf of Halifax Group plc, we give notice that Halifax Group plc and its
subsidiaries have a material interest in the shares of your company as follows:

Sedol          No of Shares     Security class     Fund - Registered Holder

0822011          237,673        Ordinary 10p       HLBA   Morgan Nominees
0822011          208,872        Ordinary 10p       HLFO   Morgan Nominees
0822011            8,758        Ordinary 10p       HPBA   Morgan Nominees
0822011            6,835        Ordinary 10p       HPFO   Morgan Nominees
0822011        2,148,000        Ordinary 10p       RF79   HSBC Global Nominees
                                                          (UK) Ltd A/C 823495
0822011           11,728        Ordinary 10p       UKTRAQ CMI UK Tracker Fund
0822011        7,272,953        Ordinary 10p       WPUKEQ Chase Nominees Ltd
                                                          A/C CMIG MAIN

Halifax Group plc's material interest is now 9,894,819 which is 3.08% of the
shares in issue.

From:  Section Manager Investment Operations (Clerical Medical)