ASD Axis-Shield

RNS Number:3260U
Axis-Shield PLC
10 April 2002

            

                   ANNOUNCEMENT TO THE OSLO STOCK EXCHANGE 
                                   AND 
                          LONDON STOCK EXCHANGE

On 10 April 2002, it was intimated to Axis-Shield plc that Dr Erling
Sundrehagen, a Director of Axis-Shield plc had gifted to Eivind and Bendik
Sundrehagen, his adult sons, Dr Sundrehagen's whole interest in the issued share
capital of Salix A/S, a Norwegian company in which Dr Sundrehagen was previously
the controlling shareholder.

Salix A/S holds 40.000 ordinary shares in the share capital of Axis-shield plc.
Accordingly, Dr Sundrehagen has ceased to be the ultimate beneficial holder of
these 40,000 ordinary shares in Axis-Shield plc held by Salix A/S.

The transaction took place at 12 noon on 10 April 2002. No consideration (direct
or indirect) has been received by Dr Sundrehagen for the transfer of shares in
Salix A/S or for the transfer of the beneficial interest in ordinary shares in
Axis-Shield plc which arose as a result thereof.

After the transfer Dr Sundrehagen remained the ultimate beneficial holder of
479,645 ordinary shares in Axis-Shield plc.

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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