ASD Axis-Shield

RNS Number:7174P
Axis-Shield PLC
9 January 2002


ANNOUNCEMENT TO THE OSLO STOCK EXCHANGE AND LONDON STOCK EXCHANGE

On 9 January 2002, it was intimated to Axis-Shield plc that Nextra Asset 
Management SGR (formerly Intesa) Funds PMI Atlante and PMI Europe had reduced 
its shareholding in Axis-Shield plc from 1,750,000 Ordinary Shares to zero 
between the period 11 October 2001 and 5 November 2001.

The transactions took place as follows:-

Date                         No. of Shares               Price

11 October 2001               800,000                    2.79 GBP
15 October 2001               100,000                    2.80 GBP
23 October 2001                50,000                    2.80 GBP
26 October 2001               325,000               2.80-2.85 GBP
5 November 2001               475,000                    3.10 GBP


This announcement requires to be made on the London Stock Exchange and is 
repeated in Norway for Oslo Stock Exchange purposes in accordance with the 
"equivalent information" rule (Rule 9.9 of the UK Listing Authority Rules).

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