RNS Number:3085P
Marconi Corporation PLC
02 September 2003

                                                       Palomino Fund Limited
                                                       26 Main Street
                                                       Chatham, NJ 07928

2 September 2003


The Directors
Marconi Corporation plc
c/o Mary Skelley
Regent's Place
338 Euston Road
London NW1 3BT


Dear Sirs,

Marconi Corporation plc (The "Company")

We write to notify you of certain information pursuant to the requirements of
s.198 et seq., Part VI of the Companies Act 1985.

As of 2 September, 2003, Palomino Fund Limited ("Palomino") of 26 Main Street,
Chatham, New Jersey 07928, USA had a notifiable interest and was registered
holder of 19,994,112 ordinary shares in the Company.

This notice of interest is given in fulfilment of the obligation of Palomino
under the requirements of s.198 et seq., Part VI of the Companies Act 1985 and
supersedes all previous notices given by us pursuant to Part VI of the Companies
Act 1985.

Yours faithfully,

For and on behalf of
Palomino Fund Limited


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