RNS Number:5800M
Austin Reed Group PLC
20 June 2003

                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     AUSTIN REED GROUP PLC


2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     ISIS ASSET MANAGEMENT PLC

3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

     AS ABOVE

4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

     CHASE NOMINEES LTD 2,563,436
     CITIFRIENDS 16,630

5)   Number of shares/amount of stock acquired.



6)   ( N/A %) of issued Class

7)   Number of shares/amount of stock disposed

     2,200,000


8)   ( 6.99%) of issued Class

9)   Class of security

     ORDINARY SHARES OF 25P EACH

10)  Date of transaction

     19/6/03

11)  Date company informed

     20/6/03

12)  Total holding following this notification

     2,580,066
               
13)  Total percentage holding of issued class following this notification

     8.20%

14)  Any additional information



15)  Name of contact and telephone number for queries

     SIMON N WAITE
     COMPANY SECRETARY
     01845 573071

16)  Name and signature of authorised company official responsible for 
     making this notification

     Date of Notification .20 JUNE 2003........





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