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RNS No 2525a
KLEINWORT DEVELOPMENT FUND PLC



Schedule 10 - Notification of Major Interests in Shares

1   Name of company:
KLEINWORT DEVELOPMENT FUND PLC

2   Name of shareholder having a major interest:
Dresdner Bank A.G., and Kleinwort Benson Group plc

3   Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or in respect of a non-beneficial
interest or in the case of an individual holder if it is a holding of that
person's spouse or children under the age of 18:
Non-beneficial (interest arises from investment management services to
discretionary clients)and beneficial

4   Name of registered holder(s) and, if more than one holder, the number of
shares held by each of them:
Guernsey Nominees Limited

5   Number of shares/amount of stock acquired:
96,000

6   Percentage of issued class:
1.58%

7   Number of shares/amount of stock disposed:
-

8   Percentage of issued class:
-

9   Class of security:
Ordinary 25p shares

10  Date of transaction:
8th July 1997

11  Date company informed:
10th July 1997

12  Total holding following this notification:
2,222,746

13  Total percentage holding of issued class following this notification:
36.75%

14  Contact name for queries:
P L Longcroft

15 Contact telephone number:
0171 956 5617

16  Name of company official responsible for making notification:
P L Longcroft

17  Date of notification:
10th July 1997





Additional Information:
Interests of subsidiary companies of Kleinwort Benson Group plc are as
follows:-

Kleinwort Benson Investment Managment Limited:              22.65%
Kleinwort Benson (Guernsey) Limited:                         3.25%
KBIM International Limited:                                  4.04%
Kleinwort Benson Investment Management Holdings Limited:    26.69%
Kleinwort Benson Limited:                                   10.05%


END

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