RNS Number:6167T
ISIS Asset Management PLC
23 December 2003

                                                                FORM SAR 5


                                       Date of disclosure 23 DECEMBER 2003

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

                 
Date of sale 22ND DECEMBER 2003

Sale of LANDROUND PLC  (name of company)


(1) Class of voting shares    Number of shares/rights   If rights over shares
    (eg ordinary shares)      over shares sold          sold, as opposed
                                                        to the shares
                                                        themselves, specify
                                                        nature of rights

    ORDINARY SHARES 5P        57,500          shares    .....................
                              ................rights


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

    1,357,107   ...(     %)   ...............(    %)    (24.061%)


(3) Party making disclosure ISIS ASSET MANAGEMENT


(4)  (a)  Name of person selling shares or rights over shares 
          and, if different, beneficial owner ISIS ASSET MANAGEMENT

     (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) DOUGLAS STEWART

Telephone and extension number PLEASE CONTACT JOHN ROYLE FOR ANY QUERIES ON
0131 465 1093


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, 
Tel. No: 020 7382 9026.



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