RNS Number:8554Z
Dawnay Day Corporate
17 June 2004




                                                                   FORM SAR 3

Lodge with a RIS or Newstrack, if appropriate, and the Takeover Panel. A copy
must also be sent to the company the shares of which are acquired.

                                            Date of disclosure...17 June 2004

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


Date of acquisition 16 June 2004............

Acquisition in ............Recovery Trust Ordinary Income Shares.........

(1)  Class of  Number of shares/     If rights over shares acquired, as opposed
voting         rights over shares    to the shares themselves, specify nature 
shares         acquired              of rights
(eg ordinary
shares)

Ordinary        740,000......shares  N/A......................
shares                        

                Nil .........rights





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

6,139,999 ( 20.5 %)               N/A                              20.5 %
                                  

                                                                   

(3)  Party making disclosure ......Dawnay, Day Corporate Finance Ltd...


(4)  (a)  Name of person acquiring shares or rights over shares ......
Pershing Keen Nominees Ltd


      and, if different, beneficial owner ......Starlight Investments Ltd...


      (b)  Names of any other persons acting by

            agreement or understanding .........N/A..... ......


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


(Also print name of signatory) ................Andrew Lowe.....................


Telephone and extension number ............0207 509 4570.......................
                     ______________________________________

Note 1.            Under SAR 5, the holdings of and acquisitions by persons
acting by agreement or understanding must be aggregated and treated as a holding
of or acquisition by one person. Note 3 on SAR 5 requires persons who must
aggregate holdings to disclose certain disposals.

Note 2.            The resultant total percentage holding of voting shares and
rights over shares is to be calculated by reference to the percentage held and
in issue outside treasury.

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.
E-mail: monitoring@disclosure.org.uk







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

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