Warburg Dillon Read - EMM Disclosure

RNS No 1806u
WARBURG DILLON READ
26th November 1998



                                                    FORM 38.5 (SUMMARY)

Lodge with Company Announcements Office and the Panel.  Use a separate form
for each class of securities in which dealings have been made.
                                       
                                       
                        CONNECTED EXEMPT MARKET-MAKERS:
     DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS



Name of EMM .WARBURG DILLON READ..............................................


Date of disclosure ......26 NOVEMBER 1998.....................................


Contact name ....ROGER BRADLEY................................................


Telephone number ...0171 568 5846.............................................


Please see attached disclosure of dealings under Rule 38.5 in the securities
of the following companies:

BTR PLC ORDINARY..............................................................

BTR PLC CONTRACT FOR DIFFERENCE

FORWARD TECHNOLOGY INDUSTRIES PLC ORDINARY

SIEBE PLC ORDINARY............................................................

SIEBE PLC CONTRACT FOR DIFFERENCE.............................................

..............................................................................

..............................................................................

..............................................................................

..............................................................................


AMENDMENT

If the attached Rule 38.5 disclosure is to amend a previous disclosure, please
state which element(s) of previous disclosure was incorrect:

..............................................................................

..............................................................................

..............................................................................

..............................................................................

In the case of option business or dealings in derivatives full details should
be given on a separate sheet so that the nature of the dealings can be fully
understood.  For options this should include the number of securities under
option, the exercise period (or in the case of exercise, the exercise date),
the exercise price and any option money paid or received.  For derivatives
this should include, at least, the number of reference securities to which
they relate (when relevant), the maturity date (or if applicable the closing
out date) and the reference price.

For full details of disclosure requirements see Rules 8 and 38 of the Code.
If in doubt contact the Monitoring Section of the Panel, Tel. No: 0171 638
0129




                                                            FORM 38.5

                                       
                        CONNECTED EXEMPT MARKET-MAKERS:
      DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS
                                       
                                       
                                       
Dealing in ...SIEBE PLC................................... (name of company)

Class of security ....CONTRACT FOR DIFFERENCE.................................

Date of disclosure ......26TH NOVEMBER 1998...................................

Date of dealing ...25 NOVEMBER 1998...........................................

Name of EMM ......WARBURG DILLON READ.........................................

Name of offeree/offeror with whom connected ..SIEBE PLC.......................



Total number of securities purchased ......23,400.....................

Highest price paid*            ............231.5 GBP..................

Lowest price paid*             ............231.5 GBP................



Total number of securities sold .............0.........................

Highest price received*         .......................................

Lowest price received*          .......................................



*Currency must be stated



                                                            FORM 38.5

                                       
                        CONNECTED EXEMPT MARKET-MAKERS:
      DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS
                                       
                                       
                                       
Dealing in ........SIEBE PLC................................ (name of company)

Class of security ....ORDINARY................................................

Date of disclosure ...26 NOVEMBER 1998........................................

Date of dealing ......25 NOVEMBER 1998........................................

Name of EMM ........WARBURG DILLON READ.......................................

Name of offeree/offeror with whom connected ...SIEBE PLC......................



Total number of securities purchased ...907,266.......................

Highest price paid*            ........234 GBP........................

Lowest price paid*             ........220 GBP........................



Total number of securities sold ........542,097.......................

Highest price received*         ...........233 GBP.....................

Lowest price received*          ...........220.5 GBP...................



*Currency must be stated


                                                            FORM 38.5

                                       
                        CONNECTED EXEMPT MARKET-MAKERS:
      DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS
                                       
                                       
                                       
Dealing in ........FORWARD TECHNOLOGY INDUSTRIES PLC........ (name of company)

Class of security ......ORDINARY..............................................

Date of disclosure ..26 NOVEMBER 1998.........................................

Date of dealing .....25 NOVEMBER 1998.........................................

Name of EMM .........WARBURG DILLON READ......................................

Name of offeree/offeror with whom connected .FORWARD TECHNOLOGY INDUSTRIES PLC



Total number of securities purchased .....7,000.......................

Highest price paid*            ..........14.5 GBP.....................

Lowest price paid*             ..........14.5 GBP.....................



Total number of securities sold .............0.........................

Highest price received*         ...........    .GBP....................

Lowest price received*          ................GBP.......................



*Currency must be stated


                                                            FORM 38.5

                                       
                        CONNECTED EXEMPT MARKET-MAKERS:
      DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS
                                       
                                       
                                       
Dealing in .....BTR PLC..................................... (name of company)

Class of security ......CONTRACT FOR DIFFERENCE...............................

Date of disclosure .........26 AUGUST 19998...................................

Date of dealing ........... 25 NOVEMBER 1998..................................

Name of EMM .............WARBURG DILLON READ..................................

Name of offeree/offeror with whom connected ......SIEBE PLC...................



Total number of securities purchased ....19,000.......................

Highest price paid*            ..........127.75 GBP...................

Lowest price paid*             ..........127.75 GBP...................



Total number of securities sold ............0..........................

Highest price received*         .................GBP......................

Lowest price received*          .................GBP......................



*Currency must be stated


                                                            FORM 38.5

                                       
                        CONNECTED EXEMPT MARKET-MAKERS:
      DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS
                                       
                                       
                                       
Dealing in ........BTR PLC.................................. (name of company)

Class of security .........ORDINARY...........................................

Date of disclosure ..........26 NOVEMBER 1998.................................

Date of dealing .............25 NOVEMBER 1998.................................

Name of EMM ...........WARBURG DILLON READ....................................

Name of offeree/offeror with whom connected ......SIEBE PLC...................



Total number of securities purchased ......2,389,938..................

Highest price paid*            ....129 GBP...........................

Lowest price paid*             ....122 GBP............................



Total number of securities sold ..........3,738,510...................

Highest price received*         ...........128 GBP.....................

Lowest price received*          ...........122 GBP.....................



*Currency must be stated






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