RNS Number:5663W
Bridgewell Securities Limited
15 March 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


15 March 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:



Merant plc



                        CONNECTED EXEMPT MARKET-MAKERS:

      DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS







Dealing in                                       Merant Plc



Class of security                                Ordinary 2p shares



Date of disclosure                               15 March 2004



Date of dealing                                  15 March 2004



Name of EMM          Bridgewell Securities Limited



Name of offeree/offeror with whom connected      Offeree - Merant Plc







Total number of securities purchased                  26,000



Highest price paid*                188p sterling



Lowest price paid*                                   188p sterling







Total number of securities sold                      Nil



Highest price received*



Lowest price received*









*Currency must be stated


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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