RNS Number:0839S
Country & Metropolitan PLC
14 November 2003


                                                                    FORM 8.1/8.3


Lodge with a RIS or Newstrack if appropriate and the Takeover Panel. Use a
separate form for each class of securities in which dealings have been made.


Date of Disclosure

14.11.03



DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) and 8.3 OF THE CITY CODE ON TAKEOVERS
AND MERGERS


Date of dealing

13.11.03


Dealing in (name of company)

Swan Hill Group plc


1. Class of securities (eg ordinary shares)

ORDINARY SHARES


2.

Amount bought             Amount sold              Price per unit

570,000                                                     90p





3. Resultant total of the same class owned or controlled (and percentage of
class)

870,000                            1.5%


4. Party making disclosure

Country & Metropolitan plc


5. EITHER (a) Name of purchaser / vendor (Note 1)


Country & Metropolitan plc


OR (b) if dealing for discretionary client(s), name of fund management
organisation



6. Reason for disclosure (Note 2)

RULE 8


(a) associate of


(i) offeror (Note 3)


NO


(ii) offeree company


NO


Specify which category or categories of associate (1-8 overleaf)




If category (8), explain




(b) Rule 8.3 (ie disclosure because of ownership or control of 1% or more of the
class of relevant securities dealt in)


Yes


Signed, for and on behalf of the party named in (4) above

YES


(Also print name of signatory)

Nishith Malde


Telephone and Extension number

01895 824 111



Note 1.


Specify owner, not nominee or vehicle company. If relevant, also identify
controller of owner, eg where an owner normally acts on instructions of a
controller


Note 2.


Disclosure might be made for more than one reason; if so, state all reasons.


Note 3.


Specify which offeror if there is more than one.


Note 4.


When an arrangement exists with any offeror, with the offeree company or with an
associate of any offeror or of the offeree company in relation to relevant
securities, details of such arrangement must be disclosed, as required by Note 6
on Rule 8.


Note 5.


It may be necessary, particularly when disclosing derivative transactions, to
append a sheet to this disclosure form so that all relevant information can be
given.


Note 6.


In the case of an average price bargain, each underlying trade should be
disclosed.

For full details of disclosure requirements, see Rule 8 of the Code. If in
doubt, contact the Panel on Takeovers and Mergers, Monitoring Section, Tel. No:
020 7638 0129. Email: monitoring@disclosure.org.uk







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

END
DCCGUGAAGUPWGGC