RNS Number:0341P
Savoy Asset Management PLC
26 August 2003


For immediate release

26th August 2003


Stock Exchange Announcement

SAVOY ASSET MANAGEMENT PLC


Christopher Saunders, a director of Savoy Asset Management plc ("Savoy"), on
26th August 2003 sold 20,000 ordinary 10p shares in Savoy at a price of 145p to
an offshore trust jointly established by himself and Tom Tutton.  Christopher
Saunder's beneficial interest in Savoy is now 709,061 ordinary shares
representing 7.91% of the issued share capital.

Tom Tutton, a significant shareholder in Savoy, on 26th August 2003 sold 20,000
ordinary 10p shares in Savoy at a price of 145p to an offshore trust established
jointly by himself and Christopher Saunders.  Tom Tutton's beneficial interest
in Savoy is now 709,061 ordinary shares representing 7.91% of the issued share
capital.

Enquiries:  Paul Tarran - Finance Director, Savoy Asset Management PLC - 020
7659 8083

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