EMM Disclosure

RNS Number:7165U
KBC Peel Hunt (EMM)
28 January 2004

                                                             FORM 38.5 (SUMMARY)

Lodge with Company Announcements Office and the 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....KBC PEEL HUNT LTD.....................................

Date of disclosure....28 JANUARY 2004................................

Contact name....ROBERT JAYE..........................................

Telephone number....020 7418 8970....................................

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

LEEDS UNITED PLC.....................................................

SHELTON (MARTIN) GROUP 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 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 derivative 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





FORM 38.5

CONNECTED EXEMPT MARKET-MAKERS:
DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS



Dealing in.....LEEDS UNITED PLC.....................(name of company)

Class of security....ORDINARY.......................................

Date of disclosure....28 JANUARY 2004...............................

Date of dealing....27 JANUARY 2004..................................

Name of EMM....KBC PEEL HUNT LTD....................................

Name of offeree/offeror with whom connected....LEEDS UNITED PLC.....


Total number of securities purchased....1,213,285...................

Highest price paid*.................GBP #0.0425.....................

Lowest price paid*..................GBP #0.0358.....................


Total number of securities sold.........734,735.....................

Highest price received*.............GBP #0.045925...................

Lowest price received*..............GBP #0.03923....................



*Currency must be stated



Dealing in.....SHELTON (MARTIN) GROUP PLC...........(name of company)

Class of security....ORDINARY.......................................

Date of disclosure....28 JANUARY 2004...............................

Date of dealing....27 JANUARY 2004..................................

Name of EMM....KBC PEEL HUNT LTD....................................

Name of offeree/offeror with whom connected....SHELTON (MARTIN) GROUP PLC


Total number of securities purchased....3,250.......................

Highest price paid*.................GBP #0.2533.....................

Lowest price paid*..................GBP #0.2533.....................


Total number of securities sold.........NIL.........................

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
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