Holding(s) in Company

Azure Holdings PLC
29 January 2004


                                                               29th January 2004
                                                           for immediate release

                       Azure Holdings plc ('the Company')

                              Notifiable Interest

Earlier today, the Company received the following notification from Evolution
Beeson Gregory Limited;

'We refer to sections 198 to 210 of the Companies Act 1985, as amended ('the
Act').

In accordance with the requirements of the Act, we hereby notify you that
Evolution Beeson Gregory Limited ('EBG') of 100 Wood Street, London EC2V 7AN has
a notifiable interest in 10,001,250 ordinary shares of 1 penny each ('Ordinary
Shares') in the share capital of Azure Holdings plc ('the Company'). All of the
Ordinary Shares in which EBG has an interest are held by EBG in its capacity as
a market maker in the Ordinary Shares of the Company, but are interests in
respect of which the exemption of markets makers from disclosure under Section
209 of the Act is not available.

Of the Ordinary Shares in which EBG has an interest, 5,001,250 such Ordinary
Shares have been acquired and 5,000,000 such Ordinary Shares are the subject of
an option to acquire the same ('the Option'). The Option is only exercisable if
and to the extent necessary to enable EBG to deliver Ordinary Shares to persons
who have entitlements to Ordinary Shares (Including entitlements to new Ordinary
Shares pursuant to the open offer of the Company announced on 2 December 2003)
pursuant to trades in Ordinary Shares entered into with EBG in its capacity as a
market maker in the Ordinary Shares of the Company.'


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