Holding(s) in Company

Headlam Group PLC
25 March 2003



Headlam Group plc - DISCLOSURE OF INTEREST IN SHARES

Headlam Group plc has today received the following notification in respect of
notifiable interests in the ordinary voting shares of 5p of the company.

We write to advise you that while we, Schroder Investment Management Limited,
continue to have an interest in the above mentioned shares, it has ceased to be
a notifiable interest for the purposes of Part V1 of the Companies Act 1985 (the
Act) since it represents less than 10% of the nominal value of that relevant
share capital, which we understand to be 84,137,601 shares.

This notification is made to you in respect of our own interest as investment
managers and also on behalf of:-

a)            Schroder Unit Trusts Limited, an affiliated company

b)            Schroder Investment Management North America Limited, a wholly
              owned subsidiary,

c)            Schroder Investment Management North America Inc., an affiliated
              company, and

d)            Schroders plc., our holding company,

in relation to  any interests they may have or be treated as having respectively
under the Act.

25 March 2003

End


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