Director Shareholding

Balfour Beatty PLC
17 May 2004


On 14 May 2004, Balfour Beatty plc ('the Company') was notified that Mr J L
Cohen, an executive director, had exercised a total of 180,000 matured options
to acquire ordinary 50p shares in the Company at a price of 110p for 80,000
options and 79p for the remaining 100,000 options. Following the exercise of
these options, and as a result of subsequent dispositions of the shares, Mr
Cohen has increased his holding in the Company by a further 20,000 shares
(making the total held by him and his immediate family to 44,195 ordinary
shares) and, at the same time, sold 160,000 shares at a price of 239.84p each.




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