VTR plc (the "Company")                            

                          - Disclosure of Interest -                           

The Board received notification yesterday, in accordance with sections 198 to
210 of the Companies Act 1985 (as amended), that Wake Forest Holdings Inc. sold
115,000 ordinary shares of 5p each in the Company and accordingly now has a
holding of 451,666 ordinary shares in VTR plc, representing 4.09 per cent. of
the Company's issued share capital.

7 March 2003



END