Holding(s) in Company

Headlam Group PLC
26 April 2002

HEADLAM GROUP PLC - DISCLOSURE OF INTEREST IN SHARES

Headlam Group plc announces that it has today received the following
notification from Zurich Financial Services and its Group in respect of
notifiable interests in the ordinary voting shares of 5p of the company.

'In accordance with the provisions of Section 198 Companies Act 1985, we would
inform you of a change to the notifiable interest over the shares in your
company which are held as detailed below.

Registered Owner                                           Ordinary 5p shares        Per cent. of total issued
                                                                                     share capital

Littledown Nominees Limited a/c 21667                               346,500
Littledown Nominees Limited a/c 07203                               718,000
Littledown Nominees Limited a/c 07197                               660,000
Littledown Nominees Limited a/c 05576                              3,415,000
Littledown Nominees Limited a/c 05577                               213,000
Total                                                              5,352,500                   6.37

Notes

Littledown Nominees Ltd is a nominee for the ZFS Group subsidiaries: Allied
Dunbar Assurance plc; Eagle Star Insurance Company Ltd; Eagle Star Life
Assurance Company Ltd; Zurich Financial Services UK Pension Trustee Ltd, Eagle
Star Executives Pension Trustee Ltd; Eagle Star Securities Ltd; Sceptre Trust
Ltd; Home & Overseas Insurance Company Ltd; Threadneedle Pensions Ltd; and J.P.
Morgan Trustee and Depoitary Company Ltd, the
Trustee for Eagle Star Unit Managers Ltd and the Depository to Threadneedle
Investment Funds ICVC.

ZFS is Zurich Financial Services, a company incorporated in Switzerland.

This notification is made on behalf of: Allied Dunbar Assurance plc; Eagle Star
Life Assurance Company Ltd and Eagle Star Holdings Limited; Threadneedle Asset
Management Ltd; Threadneedle Pensions Ltd; Zurich and Threadneedle Asset
Management Holdings Ltd; Allied Zurich Holdings Ltd, ZKI Holding Corporation,
Zurich Financial Services (UKISA) Ltd, Zurich Group Holding, Zurich Holding
Company of America Inc, Zurich Insurance Company and Allied Zurich plc, the
intermediate holding companies of the aforementioned companies, and Zurich
Financial Services, their ultimate holding company.

The shares could be available for lending and this could lead to a short term
re-registration.

End

26 April 2002



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