RNS Number:3396Q
Oryx International Growth Fund Ld
30 September 2003


FORM 8.1/8.3     Date of Disclosure

30 September 2003

DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) and 8.3 OF THE CITY CODE ON TAKEOVERS
AND MERGERS



Date of dealing


29 September 2003


Dealing in

Lupus Capital PLC


1. Class of securities (eg ordinary shares)
Ordinary Shares


2.
Amount bought                      Amount sold                        Price per unit
5,450,000                             N/a                             7.5p



3. Resultant total of the same class owned or controlled (and percentage of
class)
10,011,480 shares                                      5.79%


4. Party making disclosure
Oryx International Growth Fund Limited


5. EITHER (a) Name of purchaser / vendor (Note 1)
As above

  OR (b) if dealing for discretionary client(s), name of fund management
organisation
N/A

  6. Reason for disclosure (Note 2)



(a) associate of

(i)  offeror (Note 3)   NO

(ii) offeree company   NO



Specify which category or categories of associate (1-8 overleaf)

If category (8), explain

(b) Rule 8.3 (ie disclosure because of ownership or control of 1% or more of
the class of relevant securities dealt in)  YES



Signed, for and on behalf of the party named in (4) above
Mrs. Sadie Morrison, For and on behalf of Management International (Guernsey) 
Limited,

Secretary, Oryx International Growth Fund Limited
+44 (0)1481 707088
Telephone and Extension number



Note 1.   Specify owner, not nominee or vehicle company. If relevant, also
identify controller of owner, eg where an owner normally acts on instructions of
a controller

Note 2.   Disclosure might be made for more than one reason; if so, state all
reasons.

Note 3.   Specify which offeror if there is more than one.

Note 4.   When an arrangement exists with any offeror, with the offeree company
or with an associate of any offeror or of the offeree company in relation to
relevant securities, details of such arrangement must be disclosed, as required
by Note 6 on Rule 8.

Note 5.   It may be necessary, particularly when disclosing derivative
transactions, to append a sheet to this disclosure form so that all relevant
information can be given.

Note 6.   In the case of an average price bargain, each underlying trade should
be disclosed.

For full details of disclosure requirements, see Rule 8 of the Code. If in
doubt, contact the Panel on Takeovers and Mergers, Monitoring Section, Tel. No:
020 7638 0129. Email: monitoring@disclosure.org.uk



DEFINITION OF ASSOCIATE It is not practicable to define associate in terms which
would cover all the different relationships which may exist in an offer. The
term associate is intended to cover all persons (whether or not acting in
concert) who directly or indirectly own or deal in the shares of an offeror or
the offeree company in an offer and who have (in addition to their normal
interests as shareholders) an interest or potential interest, whether
commercial, financial or personal, in the outcome of the offer. Without
prejudice to the generality of the foregoing, the term associate will normally
include the following:- (1) an offeror's or the offeree company's parent,
subsidiaries and fellow subsidiaries, and their associated companies, and
companies of which such companies are associated companies (for this purpose
ownership or control of 20% or more of the equity share capital of a company is
regarded as the test of associated company status); (2) banks and financial and
other professional advisers (including stockbrokers)* to an offeror, the offeree
company or any company covered in (1), including persons controlling#,
controlled by or under the same control as such banks, financial and other
professional advisers; (3) the directors (together with their close relatives
and related trusts) of an offeror, the offeree company or any company covered in
(1); (4) the pension funds of an offeror, the offeree company or any company
covered in (1); (5) any investment company, unit trust or other person whose
investments an associate manages on a discretionary basis, in respect of the
relevant investment accounts; (6) a person who owns or controls 5% or more of
any class of relevant securities (as defined in paragraphs (a) to (d) in Note 2
on Rule 8) issued by an offeror or an offeree company, including a person who as
a result of any transaction owns or controls 5% or more. When two or more
persons act pursuant to an agreement or understanding (formal or informal) to
acquire or control such securities, they will be deemed to be a single person
for the purpose of this paragraph. Such securities managed on a discretionary
basis by an investment management group will, unless otherwise agreed by the
Panel, also be deemed to be those of a single person (see Note 8 on Rule 8); and
(7) a company having a material trading arrangement with an offeror or the
offeree company. Paragraphs (1)-(7) are typical cases. Paragraph (8) below is a
category to cover associate status not within (1)-(7). (8)   Other.   Notes *
References to a "bank" do not apply to a bank whose sole relationship with a
party to an offer is the  provision of normal commercial banking services or
such activities in connection with the offer as confirming that cash is
available, handling acceptances and other registration work. References to
"financial and other professional advisers (including stockbrokers)", in
relation to a party to an offer, do not include an organisation which has stood
down, because of a conflict of interest or otherwise, from acting for that party
in connection with the offer. If the organisation is to have a continuing
involvement with that party during the offer, the Panel must be consulted.
Unless the Panel is satisfied that the involvement is entirely unconnected with
the offer, the above exclusion will not normally apply. # The normal test for
whether a person is controlled by, controls or is under the same control as
another person will be by reference to the definition of control contained in
the Code.  There may be other circumstances which the Panel will regard as
giving rise to such a relationship (eg where a majority of the equity share
capital is owned by another person who does not have a majority of the voting
rights); in cases of doubt, the Panel should be consulted.


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