Rule 8.3 - BELHAVEN GROUP PLC

    2
FORM 8
                                                                        FORM 8.3

   DEALINGS BY PERSONS WHO OWN OR CONTROL 1% OR MORE OF ANY CLASS OF RELEVANT
                                    SECURITY
              (Rule 8.3 of The City Code on Takeovers and Mergers)

Name of purchaser/vendor *                    JPMORGAN ASSET MANAGEMENT
Company dealt in                              BELHAVEN GROUP Plc
Relevant security dealt in                    ORDINARY SHARES
If a connected EFM, name of offeree/offeror   N/A
with which connected
If a connected EFM, nature of connection #    N/A
Date of dealing                               27 SEPTEMBER 2005

DEALINGS 

Amount bought                                 Price per unit (currency must be stated)

                                              
                                              
Amount sold                                   Price per unit (currency must be stated)

                                              
658,431                                       625p (GBP)
                                              

Resultant total amount and percentage of the  0
same relevant security owned or controlled
     
IS A SUPPLEMENTAL FORM 8 (DERIVATIVE)/FORM 8 (OPTION) ATTACHED?          NO

Date of disclosure                            28 September, 2005
Contact name                                  Gapsun Rhee
Telephone number                              020 7325 5808

*Specify the owner or controller in addition to the person dealing.  The naming
 of nominees or vehicle companies is insufficient.  In the case of disclosure
 of dealings by fund managers on behalf of discretionary clients, the clients
 need not be named.
#See the definition of connected fund managers and principal traders in the
 Definitions Section of the Code.
If disclosing dealings/holdings in derivatives or options, please attach
 Supplemental Form 8 (Derivative) or Supplemental Form 8 (Option), as
 appropriate.

For details of the Codes dealing disclosure requirements, see Rule 8 and its
Notes which can be viewed on the Takeover Panels website at
www.thetakeoverpanel.org.uk.