RNS Number:1169Z
VTR PLC
25 July 2002


                                    VTR plc

                     Substantial Shareholding notification


The Company received notification yesterday that due to the completion of the
merger of the Chelverton Fund with Cundill International Company, in accordance
with sections 198 to 202 of the Companies Act 1985, Peter Cundill & Associates
(Bermuda) Ltd, in its capacity as investment counsel and following the purchases
set out below:


                  40,000 ordinary shares purchased on 2/7/2002
                  30,000 ordinary shares purchased on 5/7/2002
                 10,000 ordinary shares purchased on 11/7/2002
                  7,500 ordinary shares purchased on 12/7/2002


now holds a total of 717,500 ordinary shares in VTR on behalf of its clients,
being 6.47 per cent. of the issued ordinary share capital of the Company.


25 July 2002




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