RNS Number:4023N
3i Investments PLC
10 July 2003

                                                                      FORM SAR 5



Lodge with Company Announcements Office and the Panel.

A copy must also be sent to the company the shares of which are being sold.



Date of disclosure


10.07.03



DISCLOSURE UNDER NOTE 3 OF RULE 5 OF THE RULES GOVERNING SUBSTANTIAL
ACQUISITIONS OF SHARES ("SARs")



Date of sale


09.07.03



Sale of (name of company)


Morse Plc



1. Class of voting shares (eg ordinary shares)


Ordinary 10p Shares



Number of shares/rights over shares sold


661,000                Shares            Rights



If rights over shares sold, as opposed to the shares themselves, specify nature
of rights


2. Resultant total holding of voting shares (and % of total voting shares in
   issue)


24,644,987                                           18.985%



Resultant total holding of rights over shares (and % of total voting shares in
issue)


                                                         %



Total percentage


   18.985%



3. Party making disclosure


3i Investments Plc

4. (a) Name of person selling shares or rights over shares


3i Investments Plc

and, if different, beneficial owner


(b) Names of any other persons acting by agreement or understanding


Signed, for and on behalf of the party named in (3) above


(Also print name of signatory)


Simon Howard



Telephone and extension number


0207 928 3131



For full details of the SARs disclosure requirements, see Rules 3 and 5 of the
SARs.  If in doubt, contact the Panel on Takeovers and Mergers, Monitoring
Section, Tel. No: 020 7638 0129.


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

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