RNS Number:4754O
Savoy Asset Management PLC
08 August 2003

Press Announcement

                        Savoy Asset Management plc

              Sale of 70,000 shares by a substantial holder


On 6 August 2003, Michael Holland, a substantial shareholder, sold 70,000 of his
shares in Savoy Asset Management plc at 125p per share reducing his beneficial
shareholding to 495,000 ordinary shares, representing 5.6% of the current issued
ordinary share capital of the company. This sale was notified to Savoy Asset
Management plc on 7 August 2003. As at 22nd July 2003, and as disclosed in the
latest report and accounts, his beneficial shareholding was 6.72%.


Enquiries

Paul Tarran - Savoy Asset Management plc         020 7659 8000

Nigel Atkinson - Nabarro Wells & Co. Limited      020 7710 7400


8 August 2003


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