RNS Number:2779S
Reflec PLC
19 November 2003




                                   Reflec plc

                          ("Reflec" or "the Company")

Reflec was advised on 18 November 2003 that City Equities Limited had acquired
60,000,000 new ordinary shares in the Company on 17 November 2003, representing
10.75 per cent. of the issued share capital of the Company.

On 17 November 2003, City Equities Limited disposed 60,000,000 ordinary shares
in the Company and no longer has a notifiable interest in the share capital of
the Company.




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END

                      This information is provided by RNS
            The company news service from the London Stock Exchange

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