SAR - Walker Greenbank Plc

RNS Number:5503L
Palmco LLP
27 May 2003


                                                                      FORM SAR 3


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 acquired.


Date of disclosure

27th May 2003


DISCLOSURE UNDER RULE 3 OF THE RULES GOVERNING

SUBSTANTIAL ACQUISITIONS OF SHARES ("SARs")


Date of acquisition

23rd May 2003


Acquisition in (name of company)

Walker Greenbank Plc


1. Class of voting shares (eg ordinary shares)

Ordinary 1p shares


Number of shares/rights over shares acquired

           500,000   Shares                        -   Rights


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




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

                                   15,605,728                           26.45%


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

N/A                                N/A %


Total percentage

                                                                        26.45%


3. Party making disclosure

Palmco LLP

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

Palmco LLP


and, if different, beneficial owner




(b) Names of any other persons acting by agreement or understanding (see SAR 5)




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

Ralph Baber


(Also print name of signatory)

Ralph Baber


Telephone and extension number

020 7522 3200


Note.   Under SAR 5, the holdings of and acquisitions by persons acting by
agreement or understanding must be aggregated and treated as a holding of or
acquisition by one person. Note 3 on SAR 5 requires persons who must aggregate
holdings to disclose certain disposals.


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.

Email:[e-mail]









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