KEN Kendrick Resources Plc

RNS No 5361c
KENWOOD APPLIANCES PLC
15th May 1998


TO COMPANY ANNOUNCEMENTS OFFICE

                          KENWOOD APPLIANCES plc
                             ("the Company")

The Company received today, 15th May 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, P O Box 71, Road Town, Tortola, British Virgin Islands.

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

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

g)  Madison Trust, c/o S.G.W. Trust Services Limited, Craigmuir Chambers, P O
    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                    5,451,125 
    Multifund                          73,875 
    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. The interests in shares referred in this notification are mot interests 
    pursuant to Section 208(5) of the Act.

11. Please accept this 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."


FROM KENWOOD LIMITED

END

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