RNS Number:7619G
Bridgewell Securities Limited
22 December 2004

  
                                  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

22 December 2004

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                     22 December 2004

Date of dealing                        22 December 2004

Name of EMM                            Bridgewell Securities Limited

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


Total number of securities purchased                  Nil

Highest price paid*

Lowest price paid*

Total number of securities sold                        2,500

Highest price received*                                425 p sterling

Lowest price received*                                 425 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                  22 December 2004

Date of dealing                     22 December 2004

Name of EMM                         Bridgewell Securities Limited

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

Total number of securities purchased             7,500

Highest price paid*                              249 p sterling

Lowest price paid*                               249 p sterling

Total number of securities sold                  2,500

Highest price received*                          245 p sterling

Lowest price received*                           245 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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