Holding(s) in Company

RNS Number:6091U
CES Software PLC
23 January 2004

23 January 2004

FOR IMMEDIATE RELEASE





                        CES SOFTWARE PLC (the "Company")





On 22 January 2004, in fulfilment of the obligations imposed by sections 198 to
210A of the companies Act 1985 (the "Act"), Cheyne Capital Management Limited 
("Cheyne") on behalf of Cheyne General Partner Inc. (in its capacity as general
partner (the "General Partner") to Cheyne Value Fund L.P. (a Cayman domiciled
limited partnership and together "the Fund")) gave notice to the Company that:



 1. as at 20 January 2004 the Fund was interested in 875,000 ordinary shares of 5
    pence cash in the Company (the "Shares"), pursuant to an acquisition on 20
    January 2004.  This represents in excess of 3% of the issued ordinary share
    capital of the Company.  The limited partners in the fund are Cheyne Value
    Fund Inc., Mr J Gladstone and Mr P Brooke;



 2. Cheyne is now interested in the Shares by reason of acting as discretionary
    investment manager to the Fund.  The General Partner is now interested in
    the Shares by reason of acting as General Partner to the Fund;



 3. Jalner International Ltd. ("Jalner"), a British Virgin Islands domiciled
    company, is interested in the Shares by reason of holding issued shares in
    Cheyne and the General Partner to the Fund;



 4. the Galilee Trust is interested in the Shares by reason of holding issued
    shares in Jalner.



The Fund's and Jalner's address for the purpose of this notice is c/o Cheyne
Capital Management Limited, 13 Park Place, London SW1A 1LP.






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