RNS Number:5189L
Brown Shipley & Co Limited
26 April 2005


                                                                      FORM 8.1


          DEALINGS BY OFFERORS, OFFEREE COMPANIES OR THEIR ASSOCIATES
                 FOR THEMSELVES OR FOR DISCRETIONARY CLIENTS
        (Rules 8.1(a) and (b)(i) of The City Code on Takeovers and Mergers)


Name of purchaser/vendor *    BROWN SHIPLEY & CO LTD

Company dealt in              FENNER PLC

Relevant security dealt in    ORD 25P

Name of offeree/offeror with which associated  FENNER PLC
     
Specify category and nature of associate status #   6

Date of dealing               25TH APRIL 2005


DEALINGS +

Amount bought                      Price per unit (currency must be stated)

25,100                             132P


Amount sold                        Price per unit (currency must be stated)



Resultant total amount and percentage of the     10,953,985 SHARES (10.09%)
same relevant security owned or controlled
                                                 THE VARIATION BETWEEN THE
                                                 RESULTANT HOLDING STATED ABOVE
                                                 AND THAT INCLUDED IN OUR LAST
                                                 RELEVANT RULE 8.1 DISCLOSURE
                                                 (DATED 25TH APRIL 2005) WHICH
                                                 IS NOT ACCOUNTED FOR BY THE 
                                                 SALES OR PURCHASES DETAILED
                                                 ABOVE ARISES OUT OF A TRANSFER
                                                 INTO OUR DISCRETIONARY FUNDS
                                                 UNDER MANAGEMENT.

IS A SUPPLEMENTAL FORM 8 (DERIVATIVE)/FORM 8 (OPTION) ATTACHED?   NO

Date of disclosure     26TH APRIL 2005

Contact name           DAVID KITTO-SMITH

Telephone number       0207 282 3380


*    Specify the owner or controller in addition to the person dealing.  
     The naming of nominees or vehicle companies is insufficient.  
     In the case of disclosure of dealings by fund managers on behalf of
     discretionary clients, the clients need not be named.
#    See the definition of "associate" in the Definitions Section of the Code.
+    If disclosing dealings/holdings in derivatives or options, please attach 
     Supplemental Form 8 (Derivative) or Supplemental Form 8 (Option),
     as appropriate.

For details of the Code's dealing disclosure requirements, see Rule 8 and its
Notes which can be viewed on the Takeover Panel's website at 
www.thetakeoverpanel.org.uk.






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