Director/PDMR Shareholding

Local Shopping REIT (The) PLC
02 May 2007



The Local Shopping REIT plc


2 May 2007


Pursuant to Disclosure and Transparency Rule 3.1.4(1)(a), The Local Shopping
REIT plc is obliged to notify the RNS of transactions by persons discharging
managerial responsibilities and their connected persons in shares of the
Company. The following holdings of ordinary shares of nominal value of 20 pence
were all acquired on 2 May 2007, and are beneficially held:


Directors:


Grahame Whateley* 7,660,918 at 174p per share (7.98% of issued share capital)

Nicholas Gregory 500,000 at 174p per share (0.52% of issued share capital)

Michael Riley 500,000 at 174p per share (0.52% of issued share capital)

Victoria Whitehouse 1,149 at 174p per share (0.001% of issued share capital)

Andrew Cunningham 14,368 at 174p per share (0.01% of issued share capital)

Nicolas Vetch 2,873,563 at 174p per share (2.99% of issued share capital)


Senior executives:


William Heaney 34,482 at 174p per share (0.036% of issued share capital)

Christopher Moulden 1,149 at 174p per share (0.001% of issued share capital)


*The shares in which Grahame Whateley is currently interested including a
holding of 3,000,000 by Castlemore Holdings Limited, a company of which Mr
Whateley is a director and the shares of which are owned by trusts and
beneficiaries of which are Mr Whateley's children and grandchildren. Mr Whateley
also owns 747,126 shares. Mr Whateley's wife, Diane Whateley owns 5,747 shares.
The Castlemore Securities FURBS Scheme, of which Grahame Whateley is a trustee
and sole beneficiary, also owns 3,908,045 shares.


Enquiries:
Bill Heaney
Company Secretary
020 7187 4444

END



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