CAP Clean Air

    4 January 2005

                            NOTIFICATION OF SHARES                             

We were informed on 4 January 2005 that Morgan Stanley Investment Management
Ltd (a member of the Morgan Stanley Group of Companies) and its subsidiaries
are interested in 8,268,413 ordinary shares in Capital Radio plc, representing
9.67% of the ordinary shares in issue.

Cliff Fluet

Company Secretary

Capital Radio plc



END

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