RNS Number:5419N
Close Brothers Group PLC
14 July 2003


FORM 8.1/8.3


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


                                                 Date of disclosure - 14/07/2003


DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) AND 8.3

OF THE CITY CODE ON TAKEOVERS AND MERGERS


Date of dealing - 10/07/2003


Dealing in - Sherwood International                        (name of company)


(1)        Class of securities (eg ordinary shares) - Ordinary


(2)        Amount bought       Amount sold       Price per unit

                               1,306,200         #1.38

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

           (and percentage of class) Nil                 (0.00 %)


(4)        Party making disclosure - Close Brothers Group plc


(5) EITHER     (a) Name of purchaser/vendor (Note 1)
    OR         (b) If dealing for discretionary client(s), name of fund 
                   management organisation


           Reabourne Technology Investment Management Limited


(6)        Reason for disclosure (Note 2)


(a)        associate of      (i)  offeror (Note 3)            NO

                             (ii) offeree company             YES


Specify which category or categories of associate (1-8 overleaf) (2)


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 


(Also print name of signatory)  Clive Miller


Telephone and extension number 020 7655 3383


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.   E-mail: monitoring@disclosure.org.uk




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