Corporate Action

Belgo Group PLC 23 October 2001 CONSOLIDATION SECURITY TITLE *Ord Shs MNEMONIC CODE *BGO SEDOL CODE *527-071 TERMS *Every 20 Ordinary Shares of 1p into 1 New Ordinary Share of 20p PROVISIONAL EFFECTIVE DATE *06-11-01 RECORD DATE *05-11-01 NOTES *