RNS Number:8857W
Iceland Group PLC
8 January 2001



LETTER DATED 5 JANUARY 2001 TO: ICELAND GROUP PLC

Enclosed are amended notifications of disclosable interests under the 
U.K. Companies Act 1985.  Please note that while this information details 
the disclosable interests of more than one entity, the enclosed disclosure
constitutes separate notifications of interest which have been combined
solely for purposes of clarity and efficiency.  It is not intended to 
indicate that any of these entities act as a group or in concert with 
respect to these interests.

These disclosures are made in the interest of conformity with the 
Companies Act.  The Interest detailed herein was acquired solely for
investment purposes.  For disclosure purposes, holdings should be
represented as FMR Corp. and its direct and indirect subsidiaries,
and Fidelity International Limited (FIL) and its direct and indirect
subsidiaries, both being non-beneficial holders.

LETTER FROM: FIDELITY INVESTMENTS

 

NOTIFICATIONS UNDER SECTIONS 198 TO 202 -- UK COMPANIES ACT

1. Company in which shares are held:  Iceland Group Plc

2. Notifiable Interest:               Ordinary Shares

     A     FMR Corp
           82 Devonshire Street
           Boston, MA 02109

           Parent holding company of Fidelity Management & Research Company 
           (FMRCO), investment manager for US mutual funds, and Fidelity 
           Management Trust Company (FMTC), a US state chartered bank which
           acts as a trustee or investment manager of various pension and
           trust accounts. (See Schedule A for listing of Registered            
           Shareholders and their holdings.)

     B     Fidelity International Limited (FIL)
           P.O. BOX HM 670
           Hamilton HMCX, Bermuda

           Parent holding company for various direct and indirect subsidiaries,
           including Fidelity Investment Services Ltd (FISL), and Fidelity 
           Pension Management (FPM), investment managers for various non-US     
           investment companies and institutional clients. (See Schedule A for  
           listing of Registered Shareholders and their holdings).

3.     The notifiable interests also comprise the notifiable interest of

           Mr Edward C Johnson 3d
           82 Devonshire Street
           Boston, MA 02109

           A principal shareholder of FMR Corp. and Fidelity 
           International Limited.

4.     The notifiable interests include interest held on behalf of authorized
       unit trust schemes in the U.K. notwithstanding the exemption from 
       reporting pursuant to Section 209 (1) (e) of the Companies Act 1985.

5.     These notifications of disclosable interests constitute separate
       notifications of interest in the shares and are combined solely for 
       the purposes of clarity. Nothing herein should be taken to indicate 
       that FMR Corp. and its direct and indirect subsidiaries, 
       Fidelity International Limited and its direct and indirect subsidiaries
       or Mr Edward C Johnson 3d act as a group or in concert in respect of 
       the disclosed interests, or that they are required to submit these 
       notifications on a joint basis.

6.     The disclosable interests arise under section 208(4) (b) of the Act,
       namely where a person, not being the registered holder, is entitled
       to exercise a right conferred by the holding of the shares or to 
       control the exercise of such rights, or under section 203 of the Act
       respectively.

SCHEDULE A

SECURITY: Iceland Group Plc                                  


                        SHARES HELD   MANAGEMENT   NOMINEE/REGISTERED NAME
                                      COMPANY    
                         

(Ordinary Shares)
                     
                        13,299,038     FMRCO       Lloyds Bank Nominees Limited
                           887,000     FMRCO       Chase Nominees Limited
                            89,700     FMTCO       State Street Nominees Ltd
                         7,986,243     FISL        Clydesdale Bank (Head Office)
                                                   Nominees Limited
                           828,700     FPM         Chase Nominees Ltd
                           603,090     FPM         Bankers Trust
                            60,620     FPM         MSS Nominees Ltd
                           126,625     FIL         Bankers Trust
                           595,500     FIL         RBS Trust Bank
                           765,028     FIL         Clydesdale Bank (Head Office)
                                                   Nominees Limited
                         8,150,106     FIL         MSS Nominees Ltd
                           309,500     FIL         Nortrust Nominees Ltd
                           116,600     FIL         BT Globenet Nominees Ltd
                           479,600     FIL         Chase Nominees Ltd
                             4,181     FIL         HSBC Client Holdings Nominee
                                                   (UK) Limited
                           121,340     FIL         Northern Trust

TOTAL ORDINARY SHARES:  34,422,871

CURRENT OWNERSHIP PERCENTAGE: 10.11%

SHARES IN ISSUE:       340,592,639

CHANGE IN HOLDINGS SINCE
 LAST FILING:           (5,054,110) ordinary shares