RNS Number:3219Q
Credit Lyonnais (Investments) Ltd
29 September 2003

                                                                      FORM SAR 5



Lodge with a RIS or Newstrack if appropriate and the Takeover Panel.

A copy must also be sent to the company the shares of which are being sold.



Date of disclosure


29th September 2003



DISCLOSURE UNDER NOTE 3 OF RULE 5 OF THE RULES GOVERNING SUBSTANTIAL
ACQUISITIONS OF SHARES ("SARs")



Date of sale


25th September 2003



Sale of


Penna Consulting Plc



1. Class of voting shares


Ordinary Shares



Number of shares/rights over shares sold


50,000                     Shares                                Rights



If rights over shares sold, as opposed to the shares themselves, specify nature
of rights






2. Resultant total holding of voting shares (and % of total voting shares in
issue)


2,853,500                                                15.8%



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


                                                         %



Total percentage


15.8   %



3. Party making disclosure


Credit Lyonnais (Investment) Limited

4. (a) Name of person selling shares or rights over shares


Laing and Cruickshank Investment Management Limited



and, if different, beneficial owner






(b) Names of any other persons acting by agreement or understanding






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






(Also print name of signatory)


Anna-Maria Heritier de la Roche



Telephone and extension number


020-7214-5210



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
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