RNS Number:4526M
Alexon Group PLC
17 June 2003

                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

ALEXON GROUP PLC


2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

SCHRODERS PLC


3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18



4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

SEE LETTER BELOW


5)   Number of shares/amount of stock acquired.



6)   ( N/A %) of issued Class


7)   Number of shares/amount of stock disposed



8)   ( N/A %) of issued Class


9)   Class of security



10)  Date of transaction



11)  Date company informed

17/06/03


12)  Total holding following this notification

11,645,682

               
13)  Total percentage holding of issued class following this notification

18.910%


14)  Any additional information



15)  Name of contact and telephone number for queries

R. PIGGOTT
01582-723131


16)  Name and signature of authorised company official responsible for 
     making this notification


     Date of Notification 17/06/2003


Letter to Alexon Group
Dated 17 June 2003

ALEXON GROUP
10P ORDINARY SHARES ("SHARES")

We write to advise you that we, Schroder Investment Management Limited, have an 
interest in 11,571,545 shares which are held in portfolios managed by us on a 
discretionary basis for clients under investment management agreements.

Included in this figure are:-

(i)    5,776,390 shares held in (a) unit trust(s) operated and managed by an 
       affiliated company, Schroder Unit Trusts Limited (SUTL), and registered 
       or to be registered in the name of Chase Nominees Limited, and

(ii)    5,795,155 shares neither registered nor to be registered in the name of 
        Schroder Nominees Limited. The registration details are shown on the 
        schedule below.

An affiliated company, Schroder Investment Management North America Inc 
(SIMNA Inc), is managing a portfolio on a similar basis holding a further 
74,137 shares. This holding is registered or to be registered in the name of 
Chase Nominees Limited.

We believe that we, our subsidiary and affiliated company are therefore 
interested in an overall aggregate of 11,645,682 shares, representing some 
18.910% of the total number of shares in issue, namely 61,584,358.

This notification is made to you:-

(a) in respect of our interest as investment managers,

(b) on behalf of SUTL and SIMNA Inc in relation to the interests they are 
    treated as having respectively under the Companies Act 1985 (the Act), and

(c) on behalf of Schroders plc., our holding company, which is treated as having 
    an interest in all of the above shares under the Act by virtue of its 
    ownership of SIMNA Inc, SUTL and ourselves.

                              10P ORDINARY SHARES 

                                   SCHEDULE


                                                                 
REGISTRATION                                                     AMOUNT

British Coal Staff Superannuation a/c: P                      1,929,113 

BT Globenet Nominees Limited A/C 6B                             250,000 

Chase Nominees Limited                                          700,000 

Mineworkers' Pension Scheme a/c: R                            2,116,042 

Imperial Pensions Nominees Limited                              500,000 

Nortrust Nominees Limited                                       300,000

                                                              5,795,155

Letter from Schroder Investment Management Limited
     


                      This information is provided by RNS
            The company news service from the London Stock Exchange

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