Alexon Group PLC - Holding in Company

RNS No 3385n
ALEXON GROUP PLC


                    DEALINGS BY SUBSTANTIAL SHAREHOLDERS

1)  NAME OF COMPANY

ALEXON GROUP PLC

2)  NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

PHILLIPS & DREW

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

N/A

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

N/A

5)  Number of shares/amount of stock acquired.

N/A

6)  ( N/A %) of issued Class

7)  Number of shares/amount of stock disposed

N/A

8)  ( N/A %) of issued Class

9)  Class of security

ORD. 10P SHARES

10) Date of transaction

N/A

11) Date company informed

20/10/99

12) Total holding following this notification

N/A

13) Total percentage holding of issued class following this notification

N/A

14) Any additional information

SEE LETTER BELOW - NO LONGER HAS NOTIFIABLE INTEREST

15) Name of contact and telephone number for queries

R. PIGGOTT
01582-723 131

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


    Date of Notification....20 OCTOBER 1999.....


LETTER TO:          ALEXON GROUP PLC


Re:  S.198 Companies Act 1985: as amended by The Disclosure of Interest in
     Shares (Amendment) Regulations 1993

I refer to my letter informing you that Phillips & Drew Life Limited, a 
subsidiary of Phillips & Drew Holdings Limited, (which has an interest in the
above shares) had a notifiable interest in the Company.  Phillips & Drew Life
Limited and Phillips & Drew Holdings limited wish to inform you that they no
longer have a notifiable interest in the ord 10p share capital of the Company.


LETTER FROM:        J ARDLEY
                    LEGAL & COMPLIANCE DEPARTMENT
                    PHILLIPS & DREW FUND MANAGEMENT LIMITED


END


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