Director Shareholding

Athelney Trust PLC
28 May 2004







ATHELNEY TRUST PLC (the 'Company')



DIRECTOR'S SHAREHOLDING



The Company announces that it was notified on 27 May 2004 that a pension scheme
of which David Horner (a director of the Company) is a beneficiary, purchased
5,000 (0.27%) Ordinary Shares of 25 pence at a price of 87 pence per share on 26
May 2004.



Following this transaction Mr.Horner's beneficial interest in the issued
ordinary share capital of the Company is 10,000 (0.55 %) ordinary shares.  The
above figure comprises a holding of 10,000 shares owned by a pension fund in
which Mr. Horner has an interest.



END




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