SAR - Dowding & Mills

RNS Number:2160K
Unicorn Asset Management Limited
22 April 2003

                                                      FORM SAR 5


                                       Date of disclosure.22 APRIL 2003..

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

                 
Date of sale......17 APRIL 2003..........................

Sale of...........DOWDING & MILLS 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 OF 10P    ..242,600....shares        .....................
                             ...N/A..........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)

    27,718,007(17.99%)   ...............(    %)    .............(17.99%)


(3) Party making disclosure.....UNICORN ASSET MANAGEMENT LIMITED..  

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

     (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)......PHILIP JOHN....................

Telephone and extension number......020 7253 0889  x226........................


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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