CAP Clean Air

29 March 2004

London Stock Exchange

Old Broad Street

London EC2N 1HP

Dear Sirs

We were informed on 29 March 2004 that Morgan Stanley Investment Management Ltd
(a member of the Morgan Stanley Group of Companies) and its subsidiaries are
interested in 8,279,628 ordinary shares in Capital Radio plc, representing
9.69% of the ordinary shares in issue.

Yours faithfully

Nathalie Schwarz

Company Secretary



END

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