SAR 3 - Mallett PLC

    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

29 March 2005                                                                  

DISCLOSURE UNDER RULE 3 OF THE RULES GOVERNING

SUBSTANTIAL ACQUISITIONS OF SHARES ("SARs")

Date of acquisition

27 March 2005                                                                  

Acquisition in (name of company)

Mallett plc                                                                    

1. Class of voting shares (eg ordinary shares)

Ordinary shares of 5p                                                          

Number of shares/rights over shares acquired

3,000,000                     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)

3,397,600                               24.62%                                 

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

N/a                                     %                                      

Total percentage

24.62%                                                                         

3. Party making disclosure

Dresdner Kleinwort Wasserstein Group Limited                                   

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

Veer Palthe Voute NV                                                           

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



(Also print name of signatory)

Andrew Stevens James Wall                                                      

Telephone and extension number

020 7475 2194                                                                  

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]



END