Holding(s) in Company

RNS Number:2871T
GKN PLC
20 March 2002



GKN increases its 51% shareholding in GKN Driveshafts (India) Ltd to 92.4%

GKN today announces that, through its subsidiary company GKN Automotive GmbH, it
will increase its current 51% shareholding in GKN Driveshafts (India) Ltd. This
follows an open offer to all public shareholders at Rs 55/- (79p) per share
following an agreement with International Finance Corporation (IFC) to acquire
its 14.1% shareholding of 1.8 million shares at Rs.55/- per share. The offer
opened on February 5 and closed successfully on March 5 when GKN had received
valid acceptances constituting 27.3% of the total share capital. Upon
acquisition of the shares under offer and the IFC holding GKN's shareholding
will increase from 51% to 92.4%. The total cost to GKN will be £2.8 m for the
shares acquired in this first open offer and £1.4m for the shares acquired from
IFC.

Subject to local regulatory requirements, GKN Driveshafts (India) Ltd will be
delisted from the relevant Indian Stock Exchanges following a second offer for
the remaining outstanding shares.


For further information:

GKN Corporate Communications
+ 44 (0)207 463 2354



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