97HF Commerzbk Uk Nt

RNS No 6530j
CITADEL HOLDINGS PLC
17 September 1999


LETTER TO CITADEL HOLDINGS PLC

Notification on behalf of Dresdner Bank AG
------------------------------------------
pursuant to s198 Companies Act 1985 ("the Act")
-----------------------------------------------

Kleinwort Benson Group plc ("KB Group") and Dresdner RCM Global Investors
Holdings (UK) Limited ("DRCMH (UK)"), formerly Thornton Management Limited,
are indirect subsidiaries of Dresdner Bank AG ("Dresdner"). The shares in KB
Group and in DRCMH (UK) are held by Dresdner Investments (UK) plc ("Dresdner
Investments"), a wholly-owned direct subsidiary of Zenon Beteiligungs GmbH
("Zenon") which is itself a wholly-owned direct subsidiary of Dresdner.

KB Group is the holding company of Kleinwort Benson Investment Management
Holdings Limited ("KBIMH"), together with its subsidiaries. DRCMH (UK) is the
holding company of Dresdner RCM Global Investors (UK) Limited ("DRCM (UK)"),
formerly Thornton Investment Management Limited. As a result of s203(2) of the
Act Dresdner, Dresdner Investments and Zenon are interested in the Citadel
Holdings plc ordinary 25p shares in which KBIMH and DRCM (UK), together with
their subsidiaries, are interested.

Following advice from a subsidiary company of an interest in your shares, we
hereby notify you that the disclosable interest of Dresdner, Dresdner
Investments and Zenon in the share capital of your company amounts to 2,803,445
shares representing 8.44% of the issued share capital of 33,202,338 shares, as
advised by your registrars.

The shares are registered in the following names:-

          Molaki Inc.              98,612 shares
          Orchard Lake Inc.     2,704,833 shares
  
The present position in respect of the disclosable interests of the subsidiaries
of Dresdner Investments is as follows:-

* Kleinwort Benson (Guernsey) Trustees Limited is interested in 2,803,445 shares
  representing 8.44% of the issued capital.

* Kleinwort Benson Channel Islands Limited is interested in 2,803,445 shares
  representing 8.44% of the issued capital.

* KBIM International Limited, the parent company of Kleinwort Benson Channel
  Islands Limited, is interested in 2,803,445 shares representing 8.44% of the
  issued capital.

* Kleinwort Benson Investment Management Holdings Limited is interested in
  2,803,445 shares representing 8.44% of the issued capital.

* Kleinwort Benson Group plc is interested in 2,803,445 shares representing
  8.44% of the issued capital.

Whilst these shares are not beneficially owned by any of the above companies we
are advised that, in certain circumstances, we are required to disclose these
shareholdings pursuant to the Act.

This announcement is made on behalf of Dresdner Bank AG by Kleinwort Benson
Group plc, a wholly owned subsidiary within the Dresdner Bank Group.

LETTER FROM DRESDNER KLEINWORT BENSON


END

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