RNS Number:8920O
Alexon Group PLC
18 December 2001

                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     ALEXON GROUP PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

      SCHRODERS

3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18



4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

      SEE LETTER BELOW

5)   Number of shares/amount of stock acquired.

      100,000

6)   ( N/A %) of issued Class

7)   Number of shares/amount of stock disposed



8)   ( N/A %) of issued Class

9)   Class of security

      ORD 10P SHARES 

10)  Date of transaction

      13/12/01

11)  Date company informed

      17/12/01

12)  Total holding following this notification

      11,593,035
               
13)  Total percentage holding of issued class following this notification

      19.010%

14)  Any additional information



15)  Name of contact and telephone number for queries

      R PIGGOTT
      01582 723131

16)  Name and signature of authorised company official responsible for 
     making this notification

     Date of Notification ...18/12/2001.......



10p ORDINARY SHARES ("SHARES")

We write to advise you that we, Schroder Investment Management Limited, have an 
interest in 11,518,035 shares which are held in portfolios managed by us on a 
discretionary basis for clients under investment management agreements.

Included in this figure are:-
(i)  7,568,035 shares held in (a) unit trust(s) operated and managed by another 
     wholly-owned subsidiary, Schroder Unit Trusts Limited (SUTL), and          
     registered or to be registered in the name of Chase Nominees Limited, and

(ii)  3,950,000 shares neither registered nor to be registered in the name of   
      Schroder Nominees Limited.  The registration details are shown on the     
      enclosed schedule.

An affiliated company, Schroder Investment Management North America Inc (SIMNA 
Inc), is managing a portfolio on a similar basis holding a further 75,000 
shares.  This holding is registered or to be registered in the name of Chase 
Nominees Limited.

We believe that we, our subsidiary and affiliated company are therefore 
interested in an overall aggregate of 11,593,035 shares, representing some 
19.010% of the total number of shares in issue, namely 60,984,502.

This notification is made to you:-

(a)  in respect of our interest as investment managers and also by virtue of the
     fact that we are the parent company of SUTL,

(b)  on behalf of SUTL and SIMNA Inc in relation to the interests they are      
     treated as having respectively under the Companies Act 1985 (the Act), and

(c)  on behalf of Schroders plc., our holding company, which is treated as      
     having an interest in all of the above shares under the Act by virtue of   
     its ownership of ourselves.

     We shall be grateful if you will kindly confirm the total number of shares 
     currently in issue.


                                10P ORDINARY SHARES
                                     SCHEDULE

          REGISTRATION                                   AMOUNT

          Chase Nominees Limited                         800,000
          BT Globenet Nominees Limited A/C 6B            300,000
          Imperial Pensions Nominees Limited           1,200,000
          Network Nominees (six) Limited                 400,000
          Nortrust Nominees Limited                    1,250,000
                                                       3,950,000
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