Director Shareholding

Highcroft Investments PLC

3 April 2003

                           Highcroft Investments PLC                           

                            - Director's Dealings -                            

Highcroft Investments PLC (the 'Company') was informed yesterday that Mrs M
Kingerlee, the wife of Mr GJ Kingerlee, an Executive Director, sold 2,000
ordinary shares of 25p each at a price of 371p on the 2 April 2003.

Following this, Mr Kingerlee has a beneficial interest in 175,150 ordinary
shares, representing approximately 3.39 per cent. of the Company's issued
ordinary share capital.

3 April 2003