Dredge, who won by eight strokes last year, eagled the first hole for the second straight day, hitting a 6-iron to 10 feet. He and Rumford (66) are both at 13-under 200, leading Oliver Wilson (70) by one.

Wilson received treatment for a neck injury before the round began, while Rumford got attention after his round for a pinched nerve in his neck.

Sion Bebb, who nearly quit the tour a week ago for financial reasons, shot a 63 to claim a share of fourth place with Gonzalo Fernandez-Castano (65).

Dredge is looking to become the first player to retain his European Masters title since Seve Ballesteros in 1978.

"I'll have to be aggressive because with so many players up there, someone is bound to go low," Dredge said.

Dredge finished with five birdies, but also had a double-bogey at No. 12 after driving into trees and then finding the bunker.

"Conditions were perfect and a 68 was mediocre today," Dredge said. "I made some bad errors."

Lee Westwood (65) finished a shot behind Bebb after a bogey at the last hole, where his approach found the water hazard on the right side of the green.