SIGNET GROUP PLC
SC 13G/A, 1999-12-02
JEWELRY STORES
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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  ------------

                                 SCHEDULE 13G/A

                    Under the Securities Exchange Act of 1934

                                (Amendment No. 1)

                                Signet Group plc.
                       ---------------------------------
                                (Name of issuer)

                                 Ordinary Shares
                       ---------------------------------
                         (Title of class of securities)

                                   82668L872
                       ---------------------------------
                                 (CUSIP number)

                                November 23, 1999
                       ---------------------------------
             (Date of Event which requires filing of this Statement)



            Check the appropriate box to designate the rule pursuant
                        to which this schedule is filed:

                               \ \   Rule 13d-1 (b)
                                \x\  Rule 13d-1 (c)
                                 \ \ Rule 13d-1 (d)



<PAGE>




- ---------------------------------
CUSIP No. 82668L872
- ---------------------------------



- -------- -----------------------------------------------------------------------
1        NAME OF REPORTING PERSON
         S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

         Deutsche Bank A.G.
- -------- -----------------------------------------------------------------------
2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP              (a) \ \
                                                                       (b)  \ \
- -------- -----------------------------------------------------------------------
3        SEC USE ONLY

- -------- -----------------------------------------------------------------------
4        CITIZENSHIP OR PLACE OF ORGANIZATION

         Federal Republic of Germany
- -------- -----------------------------------------------------------------------
NUMBER OF SHARES             5      SOLE VOTING POWER
BENEFICIALLY                        0
OWNED BY                     ---------------------------------------------------
EACH REPORTING                      SHARED VOTING POWER
PERSON WITH                  6      161,025,028
                             ---------------------------------------------------
                                    SOLE DISPOSITIVE POWER
                             7      0
                             ---------------------------------------------------
                                    SHARED DISPOSITIVE POWER
                             8      177,256,028
- -------- -----------------------------------------------------------------------
 9       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         177,256,028
- -------- -----------------------------------------------------------------------
10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES                                                    \ \
- -------- -----------------------------------------------------------------------
11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         10.6%
- -------- -----------------------------------------------------------------------
12       TYPE OF REPORTING PERSON

         HC, BK, CO
- -------- -----------------------------------------------------------------------


<PAGE>





- ---------------------------------
CUSIP No. 82668L872
- ---------------------------------

- -------- -----------------------------------------------------------------------
   1     NAME OF REPORTING PERSON
         S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

         Deutsche Asset Management Group Limited
- -------- -----------------------------------------------------------------------
   2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP     (a) \ \
                                                              (b) \ \
- -------- -----------------------------------------------------------------------
   3     SEC USE ONLY

- -------- -----------------------------------------------------------------------
   4     CITIZENSHIP OR PLACE OF ORGANIZATION

         United Kingdom
- -------- -----------------------------------------------------------------------
NUMBER OF SHARES             5     SOLE VOTING POWER
BENEFICIALLY                       0
OWNED BY                     ---------------------------------------------------
EACH REPORTING                     SHARED VOTING POWER
PERSON WITH                  6     152,472,898
                             ---------------------------------------------------
                                  SOLE DISPOSITIVE POWER
                             7    0
                            ---------------------------------------------------
                                  SHARED DISPOSITIVE POWER
                             8    168,703,898
- -------- -----------------------------------------------------------------------
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         168,703,898
- -------- -----------------------------------------------------------------------
  10     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES                                                    \ \
- -------- -----------------------------------------------------------------------
  11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         10.1%
- -------- -----------------------------------------------------------------------
  12     TYPE OF REPORTING PERSON

         HC, CO
- -------- -----------------------------------------------------------------------


<PAGE>

Item 1(a).     Name of Issuer:

               Signet Group plc. (the "Issuer")

Item 1(b).     Address of Issuer's Principal Executive Offices:

               The address of the Issuer's principal executive offices is Zenith
House, The Hyde, London, NW9 6EW, United Kingdom.

Item 2(a).     Name of Person Filing:

               This  statement  is filed on behalf of Deutsche  Bank AG ("DBAG")
and Deutsche Asset  Management  Group Limited  ("DAMG") (DBAG and DAMG together,
the "Reporting Persons").

Item 2(b).     Address of Principal Business Office or, if none, Residence:

               The  principal  place of  business  of DBAG is  Taunusanlage  12,
D-60325, Frankfurt am Main, Federal Republic of Germany.

               The  principal  place of business of DAMG is 20 Finsbury  Circus,
London, EC2M 1NB, England.

Item 2(c).     Citizenship:

               The citizenship of each of the Reporting  Persons is set forth
on the applicable cover page.

Item 2(d).     Title of Class of Securities:

               The  title of the  securities  is  ordinary  shares,  which  also
includes  securities  held in the  form of  American  Depository  Receipts  (the
"Ordinary Shares").

Item 2(e).     CUSIP Number:

               The  CUSIP  number  of the  Ordinary  Shares is set forth on each
cover page.

Item 3.        If this statement is filed pursuant to Rules 13d-1(b), or
               13d-2(b) or (c), check whether the person filing is a:

               (a)  \ \ Broker or dealer registered under section 15 of the Act;

               (b)  \ \ Bank as defined in section 3(a)(6) of the Act;

               (c)  \ \ Insurance  Company as defined in section 3(a)(19) of the
                        Act;

               (d)  \ \ Investment  Company  registered  under  section 8 of the
                        Investment Company Act of 1940;

               (e)  \ \ An  investment  adviser  in  accordance  with Rule 13d-1
                        (b)(1)(ii)(E);

               (f)  \ \  An  employee   benefit  plan,  or  endowment  fund  in
                         accordance with Rule 13d-1 (b)(1)(ii)(F);

               (g)  \ \ A parent holding company or control person in accordance
                        with Rule 13d-1 (b)(1)(ii)(G);

               (h)  \ \ A savings  association as defined in section 3(b) of the
                        Federal Deposit Insurance Act;

               (i)  \ \ A church plan that is excluded from the definition of an
                        investment  company under section 3(c)(14) of the
                        Investment Company Act of 1940;

               (j)  \ \ Group, in accordance with Rule 13d-1 (b)(1)(ii)(J).

               If   this  statement is filed  pursuant to Rule 13d-1 (c),  check
               this box. \X\

Item 4.        Ownership.

               (a)  Amount beneficially owned:

                    Each  of  the  Reporting  Persons  owns  the  amount  of the
               Ordinary Shares as set forth on the applicable cover page.

               (b)  Percent of class:

                    Each of the  Reporting  Persons owns the  percentage  of the
               Ordinary Shares as set forth on the applicable cover page.

               (c)  Number of shares as to which such person has:

                    (i)  sole power to vote or to direct the vote:

                         Each of the  Reporting  Persons  has the sole  power to
                    vote or direct the vote of the Ordinary  Shares as set forth
                    on the applicable cover page.

                    (ii) shared power to vote or to direct the vote:

                         Each of the  Reporting  Persons has the shared power to
                    vote or direct the vote of the Ordinary  Shares as set forth
                    on the applicable cover page.

                   (iii) sole  power  to  dispose  or  to  direct  the
                         disposition of:

                         Each of the  Reporting  Persons  has the sole  power to
                    dispose or direct the  disposition of the Ordinary Shares as
                    set forth on the applicable cover page.

                    (iv) shared  power  to  dispose  or  to  direct  the
                         disposition of:

                         Each of the  Reporting  Persons has the shared power to
                    dispose or direct the  disposition of the Ordinary Shares as
                    set forth on the applicable cover page.

Item 5.        Ownership of Five Percent or Less of a Class.

               Not applicable.

Item 6.        Ownership of More than Five Percent on Behalf of Another Person.

               Investment  management  clients of the Reporting Persons have the
ultimate right to any dividends  from Ordinary  Shares and the proceeds from the
sale of Ordinary Shares.

Item 7.        Identification  and Classification of the Subsidiary Which
               Acquired the Security Being Reported on by the Parent Holding
               Company.

               The  following  are  subsidiaries  of DBAG and/or DAMG which hold
Common  Stock  included  in the  figures  on the  cover  pages:  Deutsche  Asset
Management Limited, Deutsche Asset Management  International,  Morgan Grenfell &
Co. Limited and Deutsche Bank London (United Kingdom Branch).

Item 8.        Identification and Classification of Members of the Group.

               Not applicable.

Item 9.        Notice of Dissolution of Group.

               Not applicable.

Item 10.       Certification.

               By signing  below I certify that, to the best of my knowledge and
belief, the securities  referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing  the control of the
issuer of the  securities  and were not acquired and are not held in  connection
with or as a participant in any transaction having that purpose or effect.



<PAGE>

                                    SIGNATURE

               After reasonable inquiry and to the best of my knowledge and
belief,  I certify  that the  information  set forth in this  statement is true,
complete and correct.

Dated:  December 2,1999



                                DEUTSCHE BANK AG



                                By: /s/ Dr. Dieter Eisele
                                    -------------------------------------------
                                    Name:   Dr. Dieter Eisele
                                    Title:  Group Head of Compliance



                                By: /s/ Christoph Kirschhoefer
                                    -------------------------------------------
                                    Name:   Christoph Kirschhoefer
                                    Title:  Vice President







                                                                       EXHIBIT 1


               Consent of Deutsche Asset Management Group Limited


               The  undersigned  agrees  that the  Schedule  13G/A  executed  by
Deutsche  Bank AG to which this  statement is attached as an exhibit is filed on
behalf of Deutsche Bank AG and Deutsche Asset  Management Group Limited pursuant
to Rule 13d-1(k)(1) of the Securities Exchange Act of 1934.


Dated:  December 2, 1999



                                DEUTSCHE ASSET MANAGEMENT GROUP LIMITED



                                By: /s/ William Slattery
                                    --------------------------------------------
                                    Name:   William Slattery
                                    Title:  Head of Business Risk




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