RNS Number:1388R
Paramount PLC
21 October 2003


                         Paramount PLC (the 'Company')

                           Substantial Shareholdings

The Company was informed on 20 October 2003 that the Rothschild Trust New
Zealand Limited had disposed of 5,000,000 Ordinary Shares of 5p each.

As a consequence of this transaction, the Rothschild Trust New Zealand Limited
no longer holds any Ordinary Shares of the Company.

As announced on 20 October, the Company was informed that on 17 October 2003,
Starlight Investments Ltd., had acquired 4,900,000 Ordinary Shares of 5p each at
a price of 20 pence per share. As well as Mr Guy Naggar, Mr Peter Klimt has a
beneficial interest in Starlight Investments. As a consequence, Mr Peter Klimt
has a total beneficial interest in 7,996,362 Ordinary Shares representing 9.86%
of the issued ordinary share capital.

21 October 2003



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