Holding in Company

Toad PLC
19 October 2001


Toad PLC 19 October 2001

Toad plc ('Toad' or 'the Company')

On 18 October 2001, the Company received notification from Newton Investment
Management Limited ('Newton') informing them that, following a sale of 250,000
ordinary shares of 10p each in Toad on 11 October 2001, Newton, and its direct
and indirect subsidiaries, no longer have a notifiable interest in the
ordinary share capital of the Company.

19 October 2001