Holding in Company

Toad PLC
16 February 2001

Toad Plc ('the Company')

The Company received a notification from Fidelity Investments informing them
that, following a sale of 1,550,000 ordinary shares (date not specified),
Fidelity International Limited, and its direct and indirect subsidiaries, and
Mr Edward C. Johnson 3rd (principal shareholder of Fidelity International
Limited), no longer have a notifiable interest in the ordinary share capital
of the Company.

16 February, 2001

WestLB Panmure Limited