SAR - Big Yellow Group

RNS Number:3168U
Henderson Global Investors Ltd
16 January 2004

                                                                      FORM SAR 5

Lodge with a RIS or Newstrack if appropriate and the Takeover Panel.

A copy must also be sent to the company the shares of which are being sold.

Date of disclosure

16.01.04

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

Date of sale

15.01.04

Sale of (name of company)

Big Yellow Group

1. Class of voting shares (eg ordinary shares)

Ordinary

Number of shares/rights over shares sold

150,000     Shares     .................Rights

If rights over shares sold, as opposed to the shares themselves, specify nature
of rights

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

2. Resultant total holding of voting shares (and % of total voting shares in
issue)

17,784,895         17.92%

Resultant total holding of rights over shares (and % of total voting shares in
issue)

..........         ..........%

Total percentage

17.92%

3. Party making disclosure

HENDERSON GLOBAL INVESTORS LTD

4. (a) Name of person selling shares or rights over shares

HENDERSON GLOBAL INVESTORS LTD

and, if different, beneficial owner

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

(b) Names of any other persons acting by agreement or understanding

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

Signed, for and on behalf of the party named in (3) above

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

(Also print name of signatory)

Sarah Nunn

Telephone and extension number

020 7818 6750

Note. The resultant total percentage holding of voting shares and rights over
shares is to be calculated by reference to the percentage held and in issue
outside treasury.

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, Monitoring
Section, Tel. No: 020 7638 0129. E-mail: [e-mail]


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