RNS Number:3956K
Credit Lyonnais (Investments) Ltd
25 April 2003

                                                                      FORM SAR 3

Lodge with a RIS or Newstrack and the Takeover Panel. A copy must also be sent
to the company the shares of which are acquired.

                                               Date of disclosure 25 April 2003.

   DISCLOSURE UNDER RULE 3 OF THE RULES GOVERNING SUBSTANTIAL ACQUISITIONS OF
                                SHARES ("SARs")



Date of acquisition               25 April 2003

Acquisition in Penna Consulting PLC          (name of company)


(1)   Class of voting shares         Number of shares/rights over shares  If rights over shares acquired,
                                     acquired                             as opposed to the shares
        (eg ordinary shares)                                              themselves, specify nature of
                                                                          rights

                                           
        Ordinary Shares              600,000 shares                       N/A
                                                                          
                                     Nil     rights
                                            

(2)   Resultant total holding of     Resultant total holding of rights    Total percentage
voting shares (and % of total voting over shares (and % of total voting
shares in issue)                     shares in issue)



        2,903,500  (16.09%)          Nil             (0%)                  16.09%
                                   
                                                                           
(3)   Party making disclosure ..................Credit Lyonnais Securities



(4)   (a)   Name of person acquiring shares or rights over shares .N/A
            and, if different, beneficial owner               .....N/A



        (b)   Names of any other persons acting by
              agreement or understanding (see SAR 5) .......................N/A



Signed, for and on behalf of the party named in (3) above .....................



(Also print name of signatory) ....................Chris Seals


Telephone and extension number .........................020 7214 5250

                     ______________________________________

Note.  Under SAR 5, the holdings of and acquisitions by persons acting by
agreement or understanding must be aggregated and treated as a holding of or
acquisition by one person. Note 3 on SAR 5 requires persons who must aggregate
holdings to disclose certain disposals.

For full details of the SARs disclosure requirements, see Rules 3 and 5 of the
SARs. If in doubt, contact the Panel on Takeovers and Mergers, Monitoring
Section, Tel. No: 020 7638 0129.
E-mail: monitoring@disclosure.org.uk


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