Director Shareholding

Athelney Trust PLC
18 February 2002

ATHELNEY TRUST PLC (the 'Company')

DIRECTORS' SHAREHOLDINGS

The Company announces that it was advised on 15 February 2002, that the
Chairman, Mr Hugo Deschampsneufs had previously understated his shareholding in
the Company by 40,000 (2.22%) Ordinary Shares of 25 pence due to a transfer on 1
July 2000 by way of gift from a close relative.  10,000 of these shares were
sold at a price of 77p per share on 16 November 2001.

Mr. Deschampsneufs revised total beneficial interest in the issued ordinary
share capital of the Company is 120,200 (6.67%) ordinary shares.  The above
figures include a holding of 58,000 shares owned by a pension fund in which Mr.
Deschampsneufs and the Managing Director Mr. R. G. Boyle have an interest.



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