Director Shareholding

British Empire Sec & Gen Tst PLC
11 March 2004

                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1. Name of company

British Empire Securities and General Trust p.l.c.

2. Name of director

John Walton

3. Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18 or in respect of a non-beneficial
interest

Director named in 2 above

4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them (if notified)

Asset Value Investors ISA - Account J C Walton

5. Please state whether notification relates to a person(s) connected with the
director named in 2 above and identify the connected person(s)

N/A

6. Please state the nature of the transaction. For PEP transactions please
indicate whether general/single co PEP and if discretionary/non discretionary

Purchase through an ISA

7. Number of shares / amount of stock acquired

2,911

8. Percentage of issued class

0.0018%

9. Number of shares/amount of stock disposed

N/A

10. Percentage of issued class

N/A

11. Class of security

Ordinary 10p shares

12. Price per share

238p

13. Date of transaction

9 March 2004

14. Date company informed

11 March 2004

15. Total holding following this notification

366,848

16. Total percentage holding of issued class following this notification

0.22%

If a director has been granted options by the company please complete the
following boxes.

17. Date of grant

N/A

18. Period during which or date on which exercisable

N/A

19. Total amount paid (if any) for grant of the option

N/A

20. Description of shares or debentures involved: class, number

N/A

21. Exercise price (if fixed at time of grant) or indication that price is to be
fixed at time of exercise

N/A

22. Total number of shares or debentures over which options held following this
notification

N/A

23. Any additional information

N/A

24. Name of contact and telephone number for queries

Miss D A Fish - 01277 201222

25. Name and signature of authorised company official responsible for making
this notification

Miss D A Fish

For Phoenix Administration Services Limited

Secretary

Date of Notification

11 March 2004


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