RNS No 7155m
ICELAND GROUP PLC
26th June 1997

LETTER TO:  COMPANY ANNOUNCEMENTS OFFICE

SECTION 198 (COMPANIES ACT 1985)

We hereby give notice pursuant to Section 198 of the Companies Act 1985 ("the
Act") that:

This notification relates to, and the expression "share captial" used below
means, the ordinary share capital of Iceland Group plc.

The number of shares comprised in the share capital in which we know we are
interested (for the purpose of Sections 208 and 209 of the Act) immediately
after the time when our obligation to make this notification arose has decreased
to 10,000,033 which represents 5.799% of the Issued Share Capital.

By virtue of Section 203(2) of the Act The Nomura Securities Co., Ltd is also
deemed to be interested in the shares.

LETTER FROM:  NOMURA INTERNATIONAL PLC

END