| I assume this is just arbitrage ? 
 
 Celltech Group PLC20 May 2004
 
 SCHEDULE 10
 
 NOTIFICATION OF MAJOR INTERESTS IN SHARES
 
 1. Name of company
 
 Celltech Group plc
 
 2. Name of shareholder having a major interest
 
 Goldman Sachs Group
 
 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
 
 As in 2 above
 
 4. Name of the registered holder(s) and, if more than one holder, the number of
 shares held by each of them
 
 Goldman Sachs Securities (Nominees) Limited                  7,001,435
 Goldman Sachs Securities (Nominees) Limited                     68,930
 Depositary Trust Company of New York                            19,664
 Crest account Creptemp                                       6,219,407
 
 5. Number of shares / amount of stock acquired
 
 2,299,568 (since last notification)
 
 6. Percentage of issued class
 
 0.82%
 
 7. Number of shares / amount of stock disposed
 
 N/a
 
 8. Percentage of issued class
 
 N/a
 
 9. Class of security
 
 Ordinary 50p shares
 
 10. Date of transaction
 
 Close of business on 18 May 2004
 
 11. Date company informed
 
 20 May, 2004
 
 12. Total holding following this notification
 
 13,309,436
 
 13. Total percentage holding of issued class following this notification
 
 4.78%
 
 14. Any additional information
 
 15. Name of contact and telephone number for queries
 
 Cheryl Cramer Tel. 01753 447933
 
 16. Name and signature of authorised company official responsible for making
 this notification
 
 J A D Slater
 
 Date of notification
 
 20 May, 2004
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