Holding(s) in Company

    Christian Salvesen

SCHEDULE 10

NOTIFICATION OF MAJOR INTERESTS IN SHARES


   Name of company                             Name of Shareholder having a major interest:

1. CHRISTIAN SALVESEN PLC                   2. GAM LONDON LIMITED
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   Please state whether notification           Name of the registered holder(s) and, if more
    indicates that it is in respect of          than one holder, the number of shares held by
    holding of the shareholder named in 2       each of them (if notified)
    above or in respect of a non-beneficial
    interest or in the case of an individual   GAM LONDON LIMITED
    holder if it is a holding of that
    person's spouse or children under the
    age of 18 or in respect of an non-
    beneficial interest

3. AS ABOVE                                 4.
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   Number of shares/amount of stock            Percentage of issued class:
    acquired:

5. 13,100,500                               6. 4.920%
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   Number of            Percentage of        Class of Security:      Date of Transaction
    shares/amount of     issued class:
    stock disposed:                                                  RECENT
                                             ORDINARY 28 1/8P
7.                   8. 4.920%            9.  SHARES             10.
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    Date Company         Total holding        Total percentage       Contact name for
     Informed:            following this       holding of issued      queries:
                          Notification:        class following
    21 NOVEMBER 2003                           this notification:    EDWARD PEPPIATT
                         13,100,500
11.                  12.                  13. 4.920%             14.
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    Contact Telephone Number:                   Name of official responsible for making
    01604 662 600                                notification:

                                                EDWARD PEPPIATT
15.                                         16. COMPANY SECRETARY
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    17. DATE OF NOTIFICATION:
17. 21 NOVEMBER 2003
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