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Notifiable Interest

The Company was notified on 09 January 2004 that The Trustees Of The BT Pension Scheme, Hermes Investment Management Limited, Hermes Pensions Management Limited as at 08 January 2004 had a disclosable interest in 2,616,158 ordinary shares in the Company representing 9.83 per cent of the issued share capital of that class.

Of the above mentioned shares, 2,155,221, representing 8.1 per cent of the ordinary issued share capital are registered in the name of Chase Nominees Ltd.