RNS Number:5016Q
CMB Group
3 October 2003

                                                                    FORM SAR 3


                                          Date of disclosure   OCTOBER 3, 2003

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

                 
Date of acquisition          OCTOBER 1, 2003

Acquisition in               HORACE CLARKSON PLC     (name of company)


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

    ORDINARY SHARES           80,000          shares    N/A
                              N/A             rights


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

    2,649,634      (16.31%)   N/A              (    %)  2,649,634   (16.31%)


(3) Party making disclosure     CMB GROUP

(4)  (a)  Name of person acquiring shares or rights over shares 
          and, if different, beneficial owner

          CMB NV AND IMI SA (100% SUBSIDIARY OF CMB NV)

     (b)  Names of any other persons acting by
          agreement or understanding (see SAR 5)     N/A


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

(Also print name of signatory)     FRANK GEERTS, FINANCIAL CONTROLLER

Telephone and extension number     00 32 3 247 59 12

Note. 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.

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

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