Holding(s) in Company

    SCHEDULE 10                                  
                                                                               
                   NOTIFICATION OF MAJOR INTERESTS IN SHARES                   

 1. Name of company
   
Exel plc


2) Name of shareholder having a major interest

Morley Fund Management Limited (a subsidiary of Aviva plc)


3) Please state whether notification indicates that it is in respect of

holding of the shareholder named in 2 above or in respect of a

non-beneficial interest or in the case of an individual holder if it is a

holding of that person's spouse or children under the age of 18

2 above

4) Name of the registered holder(s) and, if more than one holder, the

number of shares held by each of them

BNY Norwich Union Nominees Ltd                   4,218,829     
                                                               
BT Globenet Nominees Ltd                         3,200         
                                                               
Chase GA Group Nominees Ltd                      5,774,262     
                                                               
Chase Nominees Ltd                               745,372       
                                                               
CUIM Nominee Ltd                                 3,615,272     
                                                               
RBSTB Nominees Ltd                               450,000       

 5. Number of shares/amount of stock acquired
   
Nil

6) Percentage of issued class

N/A


7) Number of shares/amount of stock disposed

488,326


8) Percentage of issued class

0.16%


9) Class of security

Ordinary shares of 27 7/9p


10) Date of transaction

13 October 2003

11) Date company informed


15 October 2003

12. Total holding following this notification
   
14,806,935 shares

13) Total percentage holding of issued class following this notification

4.97%

14) Any additional information

None


15) Name of contact and telephone number for queries

Lizzie Chilcott

Telephone: [phone]

16) Name and signature of authorised company official responsible for

making this notification

Lizzie Chilcott, Assistant Company Secretary

Date of notification .....15 October 2003





END