Holding in Company

Macfarlane Group PLC
15 March 2001


Letter to Company Announcements Office

Substantial shareholdings

We have been notified in accordance with the Companies Act that the following
shareholder holds the number of shares set out below:

                                    Number         
                                    of shares      %        Date notified

Funds managed or advised by         4,000,000     3.16%     14 March 2001
Prudential plc                      

Mr & Mrs J. Godfrey Lane            4,000,000     3.16%     14 March 2001

Lord Macfarlane of Bearsden KT      4,783,022     3.78%     14 March 2001

Funds managed or advised by
Schroder Investment Management
Limited                             9,825,000     7.76%     14 March 2001

The Alliance Trust PLC and
The Second Alliance Trust PLC       4,957,024     3.92%     14 March 2001


Letter from Macfarlane Group PLC