RNS Number:2874N
3i Investments PLC
08 July 2003

                                                                      FORM SAR 5



Lodge with Company Announcements Office and the Panel.

A copy must also be sent to the company the shares of which are being sold.



Date of disclosure


08.07.03



DISCLOSURE UNDER NOTE 3 OF RULE 5 OF THE RULES GOVERNING SUBSTANTIAL
ACQUISITIONS OF SHARES ("SARs")



Date of sale


07.07.03



Sale of (name of company)


Halladale Group Plc



1. Class of voting shares (eg ordinary shares)


Ordinary 25p Shares



Number of shares/rights over shares sold


100,000                  Shares                         Rights



If rights over shares sold, as opposed to the shares themselves, specify nature
of rights




2. Resultant total holding of voting shares (and % of total voting shares in
issue)


3,520,000                                            18.92   %



Resultant total holding of rights over shares (and % of total voting shares in
issue)


                                                         %



Total percentage


   18.92%



3. Party making disclosure


3i Investments Plc



4. (a) Name of person selling shares or rights over shares


3i Investments Plc



and, if different, beneficial owner






(b) Names of any other persons acting by agreement or understanding






Signed, for and on behalf of the party named in (3) above






(Also print name of signatory)


Simon Howard



Telephone and extension number


0207 928 3131



For full details of the SARs disclosure requirements, see Rules 3 and 5 of the
SARs.  If in doubt, contact the Panel on Takeovers and Mergers, Monitoring
Section, Tel. No: 020 7638 0129.


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

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