RNS Number:4859E
Metalrax Group PLC
31 May 2001


Letter to: Company Announcements Office

Disclosure of Interest in Shares

We have been notified by Britannic Asset Management Limited that following
recent transactions they have a notifiable interest in shares of our company
amounting to 6,885,000 shares representing 5.72% of the 120,270,740 shares in
issue.

Letter from: Metalrax Group PLC



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