RNS Number:4464O
Reflec PLC
07 August 2003


                     Reflec plc ("Reflec" or "the Company")

                               Holding in Company



Reflec was advised on 6 August 2003 that Bachmann Trust Company Limited, as
Trustee of the S.E.A. Settlement ("the SEA Settlement") had sold ordinary shares
in the Company as follows:

  Date                                                  Number of ordinary
                                                            shares sold

30/04/03                                                     1,000,000

08/05/03                                                     2,000,000

13/05/03                                                     1,000,000

14/05/03                                                     1,000,000

27/05/03                                                     1,000,000

05/06/03                                                     2,250,000

06/06/03                                                     2,028,750


The SEA Settlement's total holding in the Company is now 10,278,750 ordinary
shares, representing 2.43 per cent. of the issued ordinary share capital of the
Company.

The SEA Settlement was established for the benefit of Mr Eaitisham ("Shami")
Ahmed and his family.



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