17 November 2003

London Stock Exchange

Old Broad Street

London EC2N 1HP

Dear Sirs

We were informed on 17 November 2003 that Morgan Stanley Investment Management
Ltd (a member of the Morgan Stanley Group of Companies) and its subsidiaries
are interested in 8,461,640 ordinary shares in Capital Radio plc, representing
10.19% of the ordinary shares in issue.

Yours faithfully

Nathalie Schwarz

Company Secretary



END