SAR 3 - Silchester International Investors Ltd

FORM SAR 3

                          DISCLOSURE OF ACQUISITIONS                           

      (Rule 3 of The Rules Governing Substantial Acquisitions of Shares)       

Name of acquirer                  Silchester International Investors Ltd       
                                                                               
Beneficial owner, if different    The Silchester International Investors Value 
from above                        Equity Trust                                 
                                                                               
                                  The Silchester International Investors Value 
                                  Equity Group Trust                           
                                                                               
                                  The Silchester International Investors       
                                  Tobacco Free International Value Trust       
                                                                               
                                  The Calleva Trust                            
                                                                               
Names of any other persons acting N/A                                          
by agreement or understanding                                                  
(see SAR 5)                                                                    
                                                                               
Company dealt in                  St Ives Plc                                  
                                                                               
Class of voting shares (eg        Ordinary Shares                              
ordinary shares)                                                               
                                                                               
Date of acquisition               12th May 2005                                

Number of shares acquired         500,000                                      
                                                                               
Number of rights over shares      N/A                                          
acquired #                                                                     
                                                                               
Nature of rights over shares      N/A                                          

Total holding of voting shares    18,009,479  17.40%                            
(and percentage of total voting                                                
shares in issue)                                                               
                                                                               
Total holding of rights over      N/A                                          
shares (and percentage of total                                                
voting shares in issue)                                                        
                                                                               
Combined total holding (and       N/A                                          
percentage) of voting shares and                                               
rights over shares                                                             

Date of disclosure                13th May 2005                                
                                                                               
Contact name                      Alison Ravenscroft                           
                                                                               
Telephone number                  020 7468 5914                                

# See the definition of 'rights over shares' in the Definitions Section of the
SARs.

For details of the SARs disclosure requirements, see SARs 3 and 5 and their
Notes which can be viewed on the Takeover Panel's website at 
www.thetakeoverpanel.org.uk