SAR - Stirling Group plc

Second Advance Value Realisation Co 06 May 2003 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 6 May 2003 DISCLOSURE UNDER RULE 3 OF THE RULES GOVERNING SUBSTANTIAL ACQUISITIONS OF SHARES ('SARs') Date of acquisition 2 May 2003 Acquisition in (name of company) Stirling Group Plc 1. Class of voting shares (eg ordinary shares) Ordinary shares Number of shares/rights over shares acquired 5,931,845 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) 15,269,241 17.98% Resultant total holding of rights over shares (and % of total voting shares in issue) - -% Total percentage 17.98% 3. Party making disclosure Second Advance Value Realisation Company Limited 4. (a) Name of person acquiring shares or rights over shares Second Advance Value Realisation Company Limited 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 ANTHONY LEE (Also print name of signatory) ANTHONY LEE Telephone and extension number 020 7490 4355 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:monitoring@disclosure.org.uk This information is provided by RNS The company news service from the London Stock Exchange