RNS Number:5989L
UBS Warburg(EMM)
15 October 2001


                                                                                
                                                           FORM 38.5 (SUMMARY)

Lodge with Company Announcements Office and the Panel. Use a separate form for 
each class of securities in which dealings have been made.
                                                                  
                     CONNECTED EXEMPT MARKET-MAKERS:

DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS

Name of EMM                   UBS WARBURG
                              
................................................................................
Date of disclosure            15 October 2001
                              
................................................................................
Contact Name                  Corinne Goring
                              
................................................................................
Telephone number              020-7568 9658
                              
................................................................................
Please see attached disclosure of dealings under Rule 38.5 in the securities of 
the following companies:

Marlborough Stirling Plc
Exchange FS Group Plc
Powergen Plc
European Technology & Income Co
Exchange FS Group Plc Contract For Difference
Powergen Plc Contract For Difference

                                                              
_______________________________________
AMENDMENT

If the attached Rule 38.5 disclosure is to amend a previous disclosure, please 
state which element(s) of previous disclosure was incorrect:

................................................................................
................................................................................
....

In the case of option business or dealings in derivatives full details should be
given on a separate sheet so that the nature of the dealings can be fully
understood. For options this should include the number of securities under 
option, the exercise period (or in the case of exercise, the exercise date), the
exercise price and any option money paid or received. For derivatives this 
should include, at least, the number of reference securities to which they 
relate (when relevant), the maturity date (or if applicable the closing out 
date) and the reference price.

For full details of disclosure requirements see Rules 8 and 38 of the Code. If 
in doubt contact the Monitoring Section of the Panel, Tel No: 020-7638 0129.







                                                                      FORM 38.5

                        CONNECTED EXEMPT MARKET-MAKERS:

     DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS




Dealing in              MARLBOROUGH STIRLING PLC         (name of company)

                        ..............................
                        .............
Class of Security       ORD GBP0.01

                        ......................................................
                        .........
Date of disclosure      15-Oct-01

                        ......................................................
                        .........
Date of dealing         12-Oct-01

                        ......................................................
                        .........
Name of EMM             UBS WARBURG

                        ......................................................
                        .........
Name of offeree / offeror with whom         MARLBOROUGH STIRLING & EXCHANGE FS
connected                                   GROUP PLC

                                            .................................
                                            ...
Total Number of securities bought       905,000

                                        ........................
Highest price paid*                     155 GBP

                                        ........................
Lowest price paid*                      152 GBP

                                        ........................
Total number of securities sold         890,000

                                        ........................
Highest price received*                 155 GBP

                                        ........................
Lowest price received*                  153 GBP

                                        ........................
                                                       *Currency must be stated








                                                                      FORM 38.5

                        CONNECTED EXEMPT MARKET-MAKERS:

     DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS




Dealing in              POWERGEN PLC                     (name of company)

                        ..............................
                        .............
Class of Security       ORD GBP0.50

                        ......................................................
                        .........
Date of disclosure      15-Oct-01

                        ......................................................
                        .........
Date of dealing         12-Oct-01

                        ......................................................
                        .........
Name of EMM             UBS WARBURG

                        ......................................................
                        .........

Name of offeree / offeror with whom         POWERGEN PLC
connected
                                            .................................
                                            ...
Total Number of securities bought       31,206

                                        ........................
Highest price paid*                     743 GBP

                                        ........................
Lowest price paid*                      739 GBP

                                        ........................
Total number of securities sold         527,288

                                        ........................
Highest price received*                 742.5 GBP

                                        ........................
Lowest price received*                  740 GBP

                                        ........................
                                                       *Currency must be stated


                                                                      FORM 38.5

                        CONNECTED EXEMPT MARKET-MAKERS:

     DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS




Dealing in              EXCHANGE FS GROUP PLC            (name of company)

                        ..............................
                        .............
Class of Security       ORD GBP0.01

                        ......................................................
                        .........
Date of disclosure      15-Oct-01

                        ......................................................
                        .........
Date of dealing         12-Oct-01

                        ......................................................
                        .........
Name of EMM             UBS WARBURG

                        ......................................................
                        .........
Name of offeree / offeror with whom         EXCHANGE FS GROUP & MARLBOROUGH
connected                                   STIRLING PLC

                                            .................................
                                            ...
Total Number of securities bought       0

                                        ........................
Highest price paid*                     0 GBP

                                        ........................
Lowest price paid*                      0 GBP

                                        ........................
Total number of securities sold         600,000

                                        ........................
Highest price received*                 27 GBP

                                        ........................
Lowest price received*                  27 GBP

                                        ........................
                                                       *Currency must be stated




                                                                      FORM 38.5

                        CONNECTED EXEMPT MARKET-MAKERS:

     DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS


Dealing in             EUROPEAN TECHNOLOGY & INCOME CO  (name of company)

                       ..............................
                       .............
Class of Security      INC GBP0.10

                       ......................................................
                       .........
Date of disclosure     15-Oct-01

                       ......................................................
                       .........
Date of dealing        12-Oct-01

                       ......................................................
                       .........
Name of EMM            UBS WARBURG

                       ......................................................
                       .........
Name of offeree / offeror with whom         EUROPEAN TECHNOLOGY & INCOME CO
connected
                                            .................................
                                            ...
Total Number of securities bought       583

                                        ........................
Highest price paid*                     0.5 GBP

                                        ........................
Lowest price paid*                      0.5 GBP

                                        ........................
Total number of securities sold         0

                                        ........................
Highest price received*                 0 GBP

                                        ........................
Lowest price received*                  0 GBP

                                        ........................
                                                       *Currency must be stated




                                                                      FORM 38.5

                        CONNECTED EXEMPT MARKET-MAKERS:

     DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS


Dealing in             EUROPEAN TECHNOLOGY & INCOME CO  (name of company)

                       ..............................
                       .............
Class of Security      UNITS 1 CAP & 1INC

                       ......................................................
                       .........
Date of disclosure     15-Oct-01

                       ......................................................
                       .........
Date of dealing        12-Oct-01

                       ......................................................
                       .........
Name of EMM            UBS WARBURG

                       ......................................................
                       .........
Name of offeree / offeror with whom         EUROPEAN TECHNOLOGY & INCOME CO
connected
                                            .................................
                                            ...
Total Number of securities bought       583

                                        ........................
Highest price paid*                     0.5 GBP

                                        ........................
Lowest price paid*                      0.5 GBP

                                        ........................
Total number of securities sold         0

                                        ........................
Highest price received*                 0 GBP

                                        ........................
Lowest price received*                  0 GBP

                                        ........................
                                                       *Currency must be stated






                                                                      FORM 38.5

                        CONNECTED EXEMPT MARKET-MAKERS:

     DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS




Dealing in          POWERGEN PLC .....................   (name of company)
                    ...................
Class of Security   CONTRACT FOR DIFFERENCE

                    .........................................................
                    ..................
Expiry              12-Jul-02

                    .........................................................
                    ..................
Client              BOUGHT TO OPEN

                    .........................................................
                    ..................
Date of disclosure  15-Oct-01

                    .........................................................
                    ..................
Date of dealing     12-Oct-01

                    .........................................................
                    ..................
Name of EMM         UBS WARBURG .............................................
                    ..............................
Name of offeree / offeror with whom          POWERGEN PLC
connected
                                             .................................
                                             ...
Total Number of securities bought         0

                                          ........................
Highest price paid*                       0 GBP

                                          ........................
Lowest price paid*                        0 GBP

                                          ........................
Total number of securities sold           290,000

                                          ........................
Highest price received*                   741 GBP

                                          ........................
Lowest price received*                    741 GBP

                                          ........................
                                                       *Currency must be stated









                                                                      FORM 38.5

                        CONNECTED EXEMPT MARKET-MAKERS:

     DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS




Dealing in          POWERGEN PLC .....................   (name of company)
                    ...................
Class of Security   CONTRACT FOR DIFFERENCE

                    .........................................................
                    ..................
Expiry              12-Jul-02

                    .........................................................
                    ..................
Client              SOLD TO OPEN

                    .........................................................
                    ..................
Date of disclosure  15-Oct-01

                    .........................................................
                    ..................
Date of dealing     12-Oct-01

                    .........................................................
                    ..................
Name of EMM         UBS WARBURG .............................................
                    ..............................
Name of offeree / offeror with whom          POWERGEN PLC
connected
                                             .................................
                                             ...
Total Number of securities bought         780,000

                                          ........................
Highest price paid*                       742 GBP

                                          ........................
Lowest price paid*                        742 GBP

                                          ........................
Total number of securities sold           0

                                          ........................
Highest price received*                   0 GBP

                                          ........................
Lowest price received*                    0 GBP

                                          ........................
                                                       *Currency must be stated







                                                                      FORM 38.5

                        CONNECTED EXEMPT MARKET-MAKERS:

     DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS




Dealing in          EXCHANGE FS GROUP .................. (name of company)
                    ......................
Class of Security   CONTRACT FOR DIFFERENCE

                    .........................................................
                    ..................
Expiry              24-Jun-02

                    .........................................................
                    ..................
Client              SOLD TO CLOSE

                    .........................................................
                    ..................
Date of disclosure  15-Oct-01

                    .........................................................
                    ..................
Date of dealing     12-Oct-01

                    .........................................................
                    ..................
Name of EMM         UBS WARBURG .............................................
                    ..............................
Name of offeree / offeror with whom         MARLBOROUGH STIRLING PLC & EXCHANGE
connected                                   FS GROUP

                                            .................................
                                            ...
Total Number of securities bought        400,000

                                         ........................
Highest price paid*                      27 GBP

                                         ........................
Lowest price paid*                       27 GBP

                                         ........................
Total number of securities sold          0

                                         ........................
Highest price received*                  0 GBP

                                         ........................
Lowest price received*                   0 GBP

                                         ........................
                                                       *Currency must be stated







                                                                      FORM 38.5

                        CONNECTED EXEMPT MARKET-MAKERS:

     DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS




Dealing in          EXCHANGE FS GROUP .................. (name of company)
                    ......................
Class of Security   CONTRACT FOR DIFFERENCE

                    .........................................................
                    ..................
Expiry              19-Jun-02

                    .........................................................
                    ..................
Client              SOLD TO CLOSE

                    .........................................................
                    ..................
Date of disclosure  15-Oct-01

                    .........................................................
                    ..................
Date of dealing     12-Oct-01

                    .........................................................
                    ..................
Name of EMM         UBS WARBURG .............................................
                    ..............................


Name of offeree / offeror with whom         MARLBOROUGH STIRLING PLC & EXCHANGE
connected                                   FS GROUP

                                            .................................
                                            ...
Total Number of securities bought        200,000

                                         ........................
Highest price paid*                      27 GBP

                                         ........................
Lowest price paid*                       27 GBP

                                         ........................
Total number of securities sold          0

                                         ........................
Highest price received*                  0 GBP

                                         ........................
Lowest price received*                   0 GBP

                                         ........................
                                                       *Currency must be stated




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