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RNS No 5687c
KLEINWORT DEVELOPMENT FUND PLC
30th September 1997



Schedule 10 - Notification of Major Interests in Shares

1   Name of company:
KLEINWORT DEVELOPMENT FUND PLC

2   Name of shareholder having a major interest:

Dresdner Bank A.G., and Kleinwort Benson Group 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:

Non-beneficial (interest arises from investment management services to
discretionary clients) and beneficial

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

Frank Nominees Limited A/C  CT

5   Number of shares/amount of stock acquired:
-

6   Percentage of issued class:
-

7   Number of shares/amount of stock disposed:
426,536

8   Percentage of issued class:
7.05%

9   Class of security:

Ordinary 25p shares

10  Date of transaction:
29th September 1997

11  Date company informed:
30th September 1997

12  Total holding following this notification:
1,776,210

13  Total percentage holding of issued class following this notification:
29.36%

14  Contact name for queries:

N J Schrager von Altishofen

15 Contact telephone number:
0171 956 6084

16  Name of company official responsible for making notification:

N J Schrager von Altishofen

17  Date of notification:
30th September 1997


Additional Information:

Interests of subsidiary companies of Kleinwort Benson Group plc are as
follows:-

Kleinwort Benson Investment Management Limited:       15.27%
Kleinwort Benson (Guernsey) Limited:                   3.25%
KBIM International Limited:                            4.04%
Kleinwort Benson Investment Management Holdings Ltd:  19.31%
Kleinwort Benson Limited (beneficial)                 10.05% 
 

END

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