EMM Disclosure

RNS Number:4518N
Citigroup Global Markets UK EqtyLtd
11 July 2003

FORM 38.5 (SUMMARY)



Lodge with Company Announcements Office (which will publicise and copy to the
Panel). Use 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:                          Citigroup Global Markets UK Equity Limited

Date of disclosure:                     11 July 2003

Contact name:                           Ben Cheetham

Telephone number:                     020 7508 3554

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

Chubb Plc

Safeway Plc

Sherwood International Plc

AMENDMENT

If the previous 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 dealing 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: 020 7638 0129















FORM 38.5



                        CONNECTED EXEMPT MARKET-MAKERS:

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





Dealing in:                                 Chubb Plc


Class of security:                       Ordinary Shares


Date of dealing:                          10 July 2003


Name of EMM:                          Citigroup Global Markets UK Equity Limited


Name of offeree/offeror with whom connected:

Chubb Plc



Total number of securities purchased:                  500,000

Highest price paid *:                                           GBP 0.7575


Lowest price paid *:                                            GBP 0.7575




Total number of securities sold:                           504,740

Highest price received *:                         GBP 0.7575

Lowest price received *:                                      GBP 0.7575


 * 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:                                 Safeway Plc


Class of security:                       Ordinary Shares


Date of dealing:                          10 July 2003


Name of EMM:                          Citigroup Global Markets UK Equity Limited


Name of offeree/offeror with whom connected:

Safeway Plc



Total number of securities purchased:                  10,478

Highest price paid *:                                           GBP 2.6250

Lowest price paid *:                                            GBP 2.6150




Total number of securities sold:                           10,462

Highest price received *:                         GBP 2.6150

Lowest price received *:                                      GBP 2.6150


 * 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:                                 Sherwood International Plc


Class of security:                       Ordinary Shares


Date of dealing:                          10 July 2003


Name of EMM:                          Citigroup Global Markets UK Equity Limited


Name of offeree/offeror with whom connected:

Sherwood International Plc



Total number of securities purchased:                  450,000

Highest price paid *:                                           GBP 1.3800

Lowest price paid *:                                            GBP 1.3800




Total number of securities sold:                           0

Highest price received *:                         GBP 0.00

Lowest price received *:                                      GBP 0.00


 * Currency must be stated




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

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