KEN Kendrick Resources Plc

RNS No 7580n
KENWOOD APPLIANCES PLC
30th April 1998


                           KENWOOD APPLIANCES PLC
                              ("the Company")

The Company received yesterday, 29th April 1998, the following announcement from
Active Value Fund Managers Limited:

"Notification of interests under Section 198 and 205 Companies Act 1985 ("CA85")

1. We hereby notify you of the interests of the various parties listed in
paragraph 2 in the Ordinary Shares of Kenwood Appliances plc ("Kenwood" or the
"Company").

2. This notification relates to the following Parties:

a) UKAV Continuation Fund Inc.  ("Continuation") whose registered office is at
Craigmuir Chambers, PO Box 71, Road Town, Tortola, British Virgin Islands.

b) UKAV Multifund Inc. ("Multifund") whose registered office is at Craigmuir
Chambers, PO Box 71, Road Town, Tortola, British Virgin Islands.

c) Kalco Investments Limited ("Kalco Investments") whose registered office is at
Trident Chambers, Wickhams Cay, PO Box 146, Road Town, Tortola, British Virgin
Islands.

d) Active Value Fund Managers Limited ("Manager") whose registered office is at
Omar Hodge Building, Wickhams Cay, PO Box 362, Tortola, British Virgin Islands.

e) Restructuring Investors Limited ("RIL") whose registered office is at Akara
Bldg, 24 De Castro Street, Wickham Cay, Road Town, Tortola, British Virgin
Islands.

f) Madison Ventures Limited ("Madison") whose registered office is at Trident
Chambers, PO Box 146, Road Town, Tortola, British Virgin Islands.

g) Madison Trust, c/o S.G.W. Trust Services Limited, Craigmuir Chambers, PO Box
71, Road Town, Tortola, British Virgin Islands.


3. The number of Ordinary Shares in which the following parties are interested
are as follows:

Continuation        4,979,875
Multifund              45,125
Kalco Investments   1,620,000

4. The registered holders of the Ordinary Shares, in the case of each of the
parties mentioned in paragraph 3 above, are or will be as follows:

(1)       Continuation: Lloyds Bank (ID) Nominees Limited A/C 171911;
(2)       Multifund: Lloyds Bank (ID) Nominees Limited A/C 171911; and 
(3)       Kalco Investments: James Capel (Channel Islands) Nominees Limited.

5. By virtue of being under common management Continuation, Multifund and Kalco
(together the "Funds") may be considered to be parties to an arrangement of the 
type to which Section 204 of the Act applies.  Accordingly and pursuant to such
arrangement, the Funds are, in addition to the interests disclosed in paragraph
3 above, interested in each other's interests in shares.

6. Although there is no formal agreement or arrangement between the Funds, it
is likely that they will exercise their rights conferred by their interests in
Ordinary Shares in conjunction with each other.

7. By virtue of arrangements entered into between the Manager and Kalco, the
Manager and Kalco may be considered to be parties to arrangements of the type to
which Section 204 of the Act applies.  Accordingly and pursuant to such
arrangements, the Manager is interested in Kalco's interests in Ordinary Shares.

8. The Manager is jointly owned by RIL and Madison Ventures.  By virtue of
Section 203 (2) (b) of the Act, each of RIL and Madison Ventures is interested
in the Manager's interests in shares maintained in paragraph 7 above.

9. Madison Ventures is wholly owned by Madison Trust.  By virtue of Section 203
(2) (b) of the Act, Madison Trust is interested in Madison Ventures' interests
in shares mentioned in paragraph 8 above.

10. Please accept this letter as notification of the interests in the relevant
share capital of the Company of each of Continuation, Multifund, Kalco, the
Manager, RIL, Madison Ventures and Madison Trust."


END

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