Holding(s) in Company

BWD Securities PLC
30 June 2003

BWD SECURITIES PLC



Company announcement



The Company was today informed by UBS Global Asset Management Holding (No.2)
Limited that, through its subsidiary undertaking UBS Global Asset Management
Life Limited, it has an interest in 945,813 Ordinary 10p shares of the Company,
representing 4.28% of the issued share capital of that class.


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