Holding in Company

Lupus Capital PLC
25 July 2000

                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     LUPUS CAPITAL PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     ADVANCE VALUE REALISATION COMPANY LIMITED

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

     AS IN (2)

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

     NORTRUST NOMINEES LIMITED A/C AVRCL

5)   Number of shares/amount of stock acquired.

     12,661,480

6)   (7.465%) of issued Class

7)   Number of shares/amount of stock disposed



8)   ( N/A %) of issued Class

9)   Class of security

     5p ORD

10)  Date of transaction

     NOT KNOWN

11)  Date company informed

     25 JULY 2000

12)  Total holding following this notification

     12,661,480
              
13)  Total percentage holding of issued class following this notification

     7.465

14)  Any additional information



15)  Name of contact and telephone number for queries

     P NEWMAN - [phone]

16)  Name and signature of authorised company official responsible for 
     making this notification

     Date of Notification ...25-7-2000.............



                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     LUPUS CAPITAL PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     BANK OF ENGLAND PENSION FUND

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

     AS IN (2)

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

     THE SECURITIES MANAGEMENT TRUST LIMITED

5)   Number of shares/amount of stock acquired.

   
6)   (N/A%) of issued Class

7)   Number of shares/amount of stock disposed

     12,183,890

8)   (7.183%) of issued Class

9)   Class of security

     5p ORD

10)  Date of transaction

     NOT KNOWN

11)  Date company informed

     25 JULY 2000

12)  Total holding following this notification

     NIL
              
13)  Total percentage holding of issued class following this notification

     NIL

14)  Any additional information



15)  Name of contact and telephone number for queries

     P NEWMAN - [phone]

16)  Name and signature of authorised company official responsible for 
     making this notification

     Date of Notification ...25-7-2000.............