Director Shareholding

Athelney Trust PLC
27 November 2001



ATHELNEY TRUST PLC (the 'Company')


DIRECTORS' AND OTHER NOTIFIABLE SHAREHOLDINGS



The Company announces that it was advised that, on 27 November 2001, the
Managing Director, Mr Robin Boyle, purchased 124,000 (6.88%) Ordinary Shares
of 25 pence at a price of 80 pence per share.  The shares will be held in the
name of Trehellas House Limited, a company owned by Mr. Boyle and his
daughter.



Following this transaction Mr. Boyle's beneficial interest in the issued
ordinary share capital of the Company is 480,000 (26.63%) ordinary shares.
The above figures include a holding of 58,000 shares owned by a pension fund
in which Mr. R.G. Boyle and the Chairman, Mr. H.B. Deschampsneufs, have an
interest.



On the same date Value Investments Limited, of St. Peter Port, Guernsey
advised the Company that they no longer held a notifiable interest in the
Company's shares.  Their holding was previously 104,000 (5.77%) of the
Company's ordinary shares.



END