HSBC Investment Bank - EMM Disclosure

RNS No 2690q
HSBC INVESTMENT BANK PLC
7 April 1999

                                                         FORM 38.5 (SUMMARY)

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



Name of EMM .........HSBC INVESTMENT BANK PLC.................................


Date of disclosure ......07 April 1999


Contact name ........LEE PARMENTER or STUART LATTO............................


Telephone number ....0171 336 9364 or 0171 336 2387...........................


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

Monument Oil & Gas
Sage Group
Portsmouth & Sunderland
Greycoat

AMENDMENT

If the attached Rule 38.5 disclosure is to amend a previous disclosure, please
state which element(s) of previous disclosure was incorrect:

N/A

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 should 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 derivatives
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 disclosure requirements see Rules 8 and 38 of the Code.
If in doubt contact the Monitoring Section of the Panel,
Tel. No: 0171 638 0129

                                                                  FORM 38.5


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


Dealing in ..........Monument Oil & Gas..................... (name of company)

Class of security ...Ordinary Shares .........................................

Date of disclosure ......07 April 1999........................................

Date of dealing .........06 April 1999........................................

Name of EMM ........HSBC Investment Bank plc t/as HSBC Securities.............

Name of offeree/offeror with whom connected ...Monument Oil & gas............

Total number of securities purchased   700,000...............................

Highest price paid*                    50.03p.................................

Lowest price paid*                     49p....................................

Total number of securities sold        269,000................................

Highest price received*                51.5p..................................

Lowest price received*                 49p....................................



*Currency must be stated


                                                                  FORM 38.5


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



Dealing in ..........Sage Group............................. (name of company)

Class of security ...Ordinary Shares .........................................

Date of disclosure ......07 April 1999........................................

Date of dealing .........06 April 1999........................................

Name of EMM ........HSBC Investment Bank plc t/as HSBC Securities.............

Name of offeree/offeror with whom connected ...Tetra.........................

Total number of securities purchased   645...................................

Highest price paid*                    2218p..................................

Lowest price paid*                     2215p..................................

Total number of securities sold        14,572.................................

Highest price received*                2255p..................................

Lowest price received*                 2235p..................................



*Currency must be stated

                                                            FORM 38.5



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



Dealing in .........Portsmouth & Sunderland................. (name of company)

Class of security ...Ordinary Shares .........................................

Date of disclosure ......07 April 1999........................................

Date of dealing .........06 April 1999........................................

Name of EMM ........HSBC Investment Bank plc t/as HSBC Securities.............

Name of offeree/offeror with whom connected ..Portsmouth & Sunderland........

Total number of securities purchased   ......................................

Highest price paid*                    .......................................

Lowest price paid*                     .......................................

Total number of securities sold        2,350..................................

Highest price received*                1750p..................................

Lowest price received*                 .......................................



*Currency must be stated


                                                                  FORM 38.5



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



Dealing in ..........Greycoat............................... (name of company)

Class of security ...Ordinary Shares .........................................

Date of disclosure ......07 April 1999........................................

Date of dealing .........06 April 1999........................................

Name of EMM ........HSBC Investment Bank plc t/as HSBC Securities.............

Name of offeree/offeror with whom connected ..Greycoat.......................

Total number of securities purchased   10,000................................

Highest price paid*                    214p...................................

Lowest price paid*                     .......................................

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

Highest price received*                .......................................

Lowest price received*                 .......................................


*Currency must be stated


                                                                  FORM 38.5



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



Dealing in ..........Greycoat............................... (name of company)

Class of security ...Warrants.................................................

Date of disclosure ......07 April 1999........................................

Date of dealing .........06 April 1999........................................

Name of EMM ........HSBC Investment Bank plc t/as HSBC Securities.............

Name of offeree/offeror with whom connected ..Greycoat.......................

Total number of securities purchased   20,000................................

Highest price paid*                    11p....................................

Lowest price paid*                     .......................................

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

Highest price received*                .......................................

Lowest price received*                 .......................................


*Currency must be stated


END

EMMAILIASFIDIAA