Holding in Company

SCHEDULE 10                                                      

                                       NOTIFICATION OF MAJOR INTERESTS IN SHARES                                       
1. Name of company

SVM OFEX Fund plc                                                      
2. Name of shareholder having a major interest

The Dill Faulkes Educational Trust                                     
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                                                    
4. Name of the registered holder(s) and, if more than one holder, the number of shares held by each of them

5. Number of shares / amount of stock acquired

6. Percentage of issued class

7. Number of shares / amount of stock disposed

500,000                                                                
8. Percentage of issued class

9.2 %                                                                  
9. Class of security

Ordinary Shares                                                        
10. Date of transaction

26 September 2002                                                      

11. Date company informed

26 September 2002                                                      
12. Total holding following this notification

13. Total percentage holding of issued class following this notification

14. Any additional information

Issued share capital of SVM OFEX Fund plc is 5,460,000 ordinary shares 
15. Name of contact and telephone number for queries

Carolina Viola 0131 226 6699                                           
16. Name and signature of authorised company official responsible for making this notification

Date of notification

27.09.02