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BWD Securities PLC (RBG)

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Thursday 12 April, 2001

BWD Securities PLC

Holding in Company

BWD Securities PLC
12 April 2001

BWD SECURITIES PLC

COMPANY ANNOUNCEMENT

The company was today informed by HSBC Asset Management (Europe) Limited that
by virtue of certain discretionary managed portfolio agreements, it has an
interest in 2,890,000 Ordinary 10p Shares of the Company, representing 14.22%
of the issued share capital of that class.

                                                                                
                                                                 

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