RNS Number:1746L
Bridgewell Securities Limited
18 April 2005


                                  FORM 38.5

                        CONNECTED EXEMPT MARKET-MAKERS:
      DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS


Name of EMM

Bridgewell Securities Limited


Date of disclosure

18 April 2005


Contact name

Neil Kapoor


Telephone number

020 7003 3207


Please see attached disclosure of dealings under Rule 38.5 in the securities
of the following companies:


Capital Radio plc
GWR Group plc





                        CONNECTED EXEMPT MARKET-MAKERS:
      DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS


Dealing in                Capital Radio Plc

Class of security         Ordinary 2.5p shares

Date of disclosure        18 April 2005

Date of dealing           15 April 2005

Name of EMM               Bridgewell Securities Limited

Name of offeree/offeror with whom connected      Offeror - Capital Radio Plc


Total number of securities purchased       53,170

Highest price paid*                        385.34 p sterling

Lowest price paid*                         385.34 p sterling


Total number of securities sold            53,170

Highest price received*                    387 p sterling

Lowest price received*                     385 p sterling



*Currency must be stated





                        CONNECTED EXEMPT MARKET-MAKERS:
      DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS

Dealing in                GWR Group Plc

Class of security         Ordinary 5p shares

Date of disclosure        18 April 2005

Date of dealing           15 April 2005

Name of EMM               Bridgewell Securities Limited

Name of offeree/offeror with whom connected      Offeree - GWR Group Plc


Total number of securities purchased       44,312

Highest price paid*                        230 p sterling

Lowest price paid*                         229.25 p sterling


Total number of securities sold            44,312

Highest price received*                    230 p sterling

Lowest price received*                     229.5 p sterling



*Currency must be stated




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

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