SAR - Acquisitor Holdings Limited

    FORM SAR 3

Lodge with Company Announcements Office and the Takeover Panel.

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

Date of disclosure

7 February 2005                                                                

DISCLOSURE UNDER RULE 3 OF THE RULES GOVERNING

SUBSTANTIAL ACQUISITIONS OF SHARES ("SARs")

Date of acquisition

3 February 2005                                                                

Acquisition in (name of company)

Acquisitor Holdings Limited                                                    

1. Class of voting shares (eg ordinary shares)

Ordinary Shares                                                                

Number of shares/rights over shares acquired

1,000,000                     Shares    -                              Rights  

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

-                                                                              

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

12,209,500                              24.9 %                                 

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

-                                       - %                                    

Total percentage

24.9 %                                                                         

3. Party making disclosure

SVM Asset Management Limited                                                   

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

BNY OCS Nominees Limited                                                       

and, if different, beneficial owner

Clients of SVM Asset Management Limited                                        

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

-                                                                              

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



(Also print name of signatory)

Carolina Viola                                                                 

Telephone and extension number

0131 226 6699                                                                  

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.



END

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