Notes to the Accounts

21. Deferred taxation

Summary of movements
At 31 December 1997	37
Exchange differences	1
Subsidiary undertakings acquired/(disposed)	(14)
Net release in the year	(3)
Transfer to current taxation	(1)
At 31 December 1998	20

Deferred taxation derives from
Capital allowances	7	25
Other timing differences	13	12
	20	37
Deferred taxation not provided
Relating to revalued assets and timing differences	(1)	7
Relating to gains subject to rollover relief	12	18
	11	25