Director/PDMR Shareholding

CEPS PLC                                    

                              DIRECTOR'S DEALING                               

The board of CEPS plc (the 'Company') was informed that David Horner, a
director of the Company, today transferred 5,000,000 ordinary shares in the
Company, representing approximately 2.81 per cent. of the Company's issued
share capital, from Chelverton Asset Management Limited, a company 100% owned
by him, to his personal pension fund, both of which are members of the Concert
Party (as described in the circular to shareholders dated 26 March 2004).

David Horner's previously disclosed beneficial holding of 21,355,556 ordinary
shares representing approximately 11.98 per cent. of the Company's issued share
capital remains unchanged.