Cycladic Capital Management Ltd
12 August 2005

                                                                    FORM SAR 3


                        DISCLOSURE OF ACQUISITIONS
     (Rule 3 of The Rules Governing Substantial Acquisitions of Shares)


Name of acquirer                                CYCLADIC CAPITAL MANAGEMENT LTD    

Beneficial owner, if different from above



Names of any other persons acting by agreement 
or understanding (see SAR 5)

Company dealt in                                 VOLEX GROUP PLC

Class of voting shares (eg ordinary shares)      ORDINARY SHARES

Date of acquisition                              9TH AUGUST 2005



Number of shares acquired                       150,000

Number of rights over shares acquired #

Nature of rights over shares




Total holding of voting shares (and percentage of     11,664,907 (21.06%)
total voting shares in issue)

Total holding of rights over shares (and              
percentage of total voting shares in issue)

Combined total holding (and percentage) of            11,664,907 (21.06%)
voting shares and rights over shares




Date of disclosure                           12TH AUGUST 2005

Contact name                                 REBECCA HUMBY

Telephone number                             020 7494 6542


#     See the definition of  "rights over shares" in the Definitions Section 
      of the SARs.

For details of the SARs disclosure requirements, see SARs 3 and 5 and their 
Notes which can be viewed on the Takeover Panel's website at 
www.thetakeoverpanel.org.uk.






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