RNS Number:9570M
Hull Trading UK Limited
28 June 2000


                          EMM DISCLOSURE


                                                    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:                              Hull Trading UK Limited

Date of disclosure:                       28 June 2000

Contact name:                             Abbie Hood

Telephone number:                         020 7397 2712

Please see attached disclosure of dealings under Rule 38.5 in the securities 
of the following companies:

                                          Allied Zurich PLC
                                          Bsky B
                                          Freeserve
                                          Glaxo Wellcome


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 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 derivative
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 the 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:                                   Allied Zurich PLC

Class of security:                            Ordinary 25p Shares 

Date of disclosure:                           28 June 2000              

Date of dealing:                              27 June 2000

Name of EMM:                                  Hull Trading UK Limited

Name of offeree/offeror with whom connected:  Allied Zurich PLC


Total number of securities purchased:                            

Highest price paid gbp:                            

Lowest price paid gbp:                            

Total number of securities sold:          23,581    

Highest price received gbp:                 7.85
                                            
Lowest price received gbp:                  7.84




                   CONNECTED EXEMPT MARKET-MAKERS:
DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS

Dealing in:                                   Bsky B

Class of security:                            Ordinary 50p Shares 

Date of disclosure:                           28 June 2000              

Date of dealing:                              27 June 2000

Name of EMM:                                  Hull Trading UK Limited

Name of offeree/offeror with whom connected:  Bsky B


Total number of securities purchased:           3,110   

Highest price paid gbp:                         12.96
                                             
Lowest price paid gbp:                          12.92

Total number of securities sold:              

Highest price received gbp:                   

Lowest price received gbp:                     


                   CONNECTED EXEMPT MARKET-MAKERS:
DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS

Dealing in:                                   Bsky B

Class of security:                            Options Activity

Date of disclosure:                           28 June 2000              

Date of dealing:                              27 June 2000

Name of EMM:                                  Hull Trading UK Limited

Name of offeree/offeror with whom connected:  Bsky B


Total number of securities purchased:              

Highest price paid gbp:                            

Lowest price paid gbp:                            

Total number of securities sold:              

Highest price received gbp:                     

Lowest price received gbp:                     

*** BSY ***  DATE: 20000627 
       STOCK:
              SOLD   ->  QTY        0    HIGH     0.00    LOW     0.00
              BOUGHT ->  QTY     3110    HIGH    12.96    LOW    12.92
       OPTION:        13.00 CALL 9/20/00 @ 16:30
              SOLD   ->  QTY       -1    HIGH     1.35    LOW     1.35
              BOUGHT ->  QTY        0    HIGH     0.00    LOW     0.00



                 CONNECTED EXEMPT MARKET-MAKERS:
DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS

Dealing in:                                   Freeserve

Class of security:                            Options Activity

Date of disclosure:                           28 June 2000              

Date of dealing:                              27 June 2000

Name of EMM:                                  Hull Trading UK Limited

Name of offeree/offeror with whom connected:  Freeserve


Total number of securities purchased:              

Highest price paid gbp:                            

Lowest price paid gbp:                            

Total number of securities sold:              

Highest price received gbp:                     

Lowest price received gbp:                     

 *** FRE ***  DATE: 20000627 
       STOCK:
              SOLD   ->  QTY        0    HIGH     0.00    LOW     0.00
              BOUGHT ->  QTY        0    HIGH     0.00    LOW     0.00
       OPTION:         3.60 CALL 9/20/00 @ 16:30
              SOLD   ->  QTY        0    HIGH     0.00    LOW     0.00
              BOUGHT ->  QTY       10    HIGH     0.42    LOW     0.42
             

              CONNECTED EXEMPT MARKET-MAKERS:
DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS


Dealing in:                                   Glaxo Wellcome PLC

Class of security:                            Ordinary 25p Shares 

Date of disclosure:                           28 June 2000              

Date of dealing:                              27 June 2000

Name of EMM:                                  Hull Trading UK Limited

Name of offeree/offeror with whom connected:  Glaxo Wellcome PLC


Total number of securities purchased:         3,620    

Highest price paid gbp:                       18.50

Lowest price paid gbp:                        18.50

Total number of securities sold:              8,347

Highest price received gbp:                   18.57

Lowest price received gbp:                    18.53

END

EMMEANKPALDEEEE


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