Cycladic Capital Management Ltd
01 September 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                          31st August 2005


Number of shares acquired                    50,000

Number of rights over shares acquired # 

Nature of rights over shares


Total holding of voting shares (and 
percentage of total voting shares in issue)  12,214,907 (22.05%)

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

Combined total holding (and percentage) 
of voting shares and rights over shares      12,214,907 (22,05%)

Date of disclosure                           1st September 2005     

Contact name                                 Dimitri Goulandris     

Telephone number                             020 7494 6541    


# 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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