EMM Disclosure

RNS Number:6265U
Deutsche Bank AG London
26 January 2004



                                 EMM DISCLOSURE

                                                             FORM 38.5 (SUMMARY)

Lodge with a RIS and the Takeover 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 Deutsche Bank AG London


Date of disclosure 26/01/04


Contact name Kelly-Jade Ledwich


Telephone number 0207 545 7804



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

Canary Wharf Group Plc

 Chelsfield Plc


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 the disclosure requirements see Rules 8 and 38 of the Code.
If in doubt contact the Monitoring Section of the Panel, Tel. No: 020 7638 0129.
Email: [e-mail]



                                                                       FORM 38.5

CONNECTED EXEMPT MARKET-MAKERS:

DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS

Dealing in (name of company) Canary Wharf Group plc


Class of security Ordinary


Date of disclosure 26/01/04


Date of dealing 23/01/04


Name of EMM Deutsche Bank AG London



Name of offeree/offeror with whom connected Brascan Corporation



Total number of securities purchased 882,280


Highest price paid* #2.6725


Lowest price paid* #2.6675



Total number of securities sold 2,614,691



Highest price received* #2.67



Lowest price received* #2.6675



*Currency must be stated




                                                    Rule 38.5 (CFD)



            CONNECTED EXEMPT MARKET-MAKERS/EXEMPT PRINCIPAL TRADERS:

      DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS

Dealing in Contract for Differences ("CFD") referenced to ......Canary Wharf
Group Plc...........................(Company)

(Class of security) ....................Ordinary....................



Date of disclosure ............26/01/04..................................

Date of dealing ...............23/01/04.....................................

Name of EMM/EPT...Deutsche Bank AG London.........

Name of offeree/offeror with whom connected ...............Brascan Corporation

Product Type ..................Long CFD.......................................


Maturity Date ..................Open Ended....................................




Writing of CFD

Number of Ordinary Shares to which the CFD is referenced .........46,282......



CFD reference price between......#2.6725.........and .........#2.6675.........




Closing Out of CFD

Number of Ordinary Shares to which the CFD is referenced......2,449,702.........




CFD closing out price between ...#2.67............and............#2.6675......



Further disclosure should be made where necessary so that the nature of the
dealings can be fully understood


                                                                       FORM 38.5

CONNECTED EXEMPT MARKET-MAKERS:

DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS

Dealing in (name of company) Chelsfield plc




Class of security Ordinary



Date of disclosure 26/01/04



Date of dealing 23/01/04



Name of EMM Deutsche Bank AG London



Name of offeree/offeror with whom connected MBO led by the Chairman



Total number of securities purchased 220,000



Highest price paid* #3.0575



Lowest price paid* #3.0546


Total number of securities sold 54,141



Highest price received* #3.0561




Lowest price received* #3.05



*Currency must be stated




                                                    Rule 38.5 (CFD)



            CONNECTED EXEMPT MARKET-MAKERS/EXEMPT PRINCIPAL TRADERS:

      DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS

Dealing in Contract for Differences ("CFD") referenced to ......Chelsfield Plc
...........................(Company)

(Class of security) ....................Ordinary....................



Date of disclosure ............26/01/04........................................

Date of dealing ...............23/01/04.....................................

Name of EMM/EPT...Deutsche Bank AG London.........

Name of offeree/offeror with whom connected ...MBO led by the Chairman.........
... ........................................

Product Type ..................Long CFD.......................................
........................................

Maturity Date ..................Open Ended....................................
...........................




Writing of CFD

Number of Ordinary Shares to which the CFD is referenced .........200,000......
........................



CFD reference price ......#3.0546......... ....... ........................




Closing Out of CFD

Number of Ordinary Shares to which the CFD is referenced......34,141............
...................



CFD closing out price between......#3.0526............and............#3.05......



Further disclosure should be made where necessary so that the nature of the
dealings can be fully understood






                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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