Directors' Dealings

Piccadilly Growth Trust Plc
12 January 2000




The Company has been informed that Mr Peter Metcalfe, a Director of the
Company, has today purchased 3,000 Ordinary 25p Shares of the Company,
registered in his own name.  As a result, Mr Metcalfe is deemed have an
interest in a total of 14,801 Ordinary 25p Shares of the Company (representing
0.18% of the issued Share Capital).  

The Company has also been informed that Mr Andrew Greenwell, a Director of the
Company, has today purchased 4,000 Ordinary 25p Shares of the Company,
registered in the name of Brewin Nominees Limited.  As a result, Mr Greenwell
is deemed to have an interest in a total of 203,640 Ordinary 25p Shares of the
Company (representing 2.47% of the issued Share Capital).