Director Shareholding

Stanelco PLC
16 February 2004


Stanelco plc - Director Shareholding
SCHEDULE 11

NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

All relevant boxes should be completed in block capital letters.

1. Name of company                   2. Name of director

   STANELCO PLC                               I H BALCHIN

3. Please state whether notification 4. Name of the registered holder(s) and,
   indicates that it is in respect      if more than one holder, the number of
   of holding of the shareholder        shares held by each of them (if
   named in 2 above or in respect of    notified)
   a non-beneficial interest or in
   the case of an individual holder     IAN BALCHIN
   if it is a holding of that
   person's spouse or children under
   the age of 18 or in respect of an
   non-beneficial interest

   DIRECTOR'S BENEFICIAL INTEREST

5. Please state whether notification 6. Please state the nature of the
   relates to a person(s) connected     transaction. For PEP transactions
   with the director named in 2         please indicate whether general/single
   above and identify the connected     co PEP and if discretionary/non
   person(s)                            discretionary /non discretionary

   N/A                                  EXERCISE OF OPTIONS AND SALE OF SHARES
                                        ARISING FROM EXERCISE (see attached for
                                        fuller explanation)

7. Number of      8. Percentage of  9. Number of shares 10. Percentage of
   shares/amount     issued class      /amount of stock     issued class
   of stock                            disposed
   acquired
                       0.71%                                  0.70%
    5,368,158                             5,263,158


11. Class of       12. Price per      13. Date of         14. Date company
    security           share              transaction         informed

    ORDINARY           2.4956 pence         12.02.2004          13.02.2004

15. Total holding following this     16. Total percentage holding of issued
    notification                         class following this notification

    105,000                              0.01%

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

17. Date of grant                    18. Period during which or date on which
                                         exercisable

19. Total amount paid (if any) for   20. Description of shares or debentures
    grant of the option                  involved: class, number

21. Exercise price (if fixed at time 22. Total number of shares or debentures
    of grant) or indication that         over which options held following this
    price is to be fixed at time of      notification
    exercise
                                     54,577,013 Ord 0.1p shares


23. Any additional information       24. Name of contact and telephone number
                                         for queries
    See attached
                                         ROBERT DUGGAN  01489 570991

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

    Robert Duggan, Company Secretary, STANELCO PLC

Date of notification 16 February 2004

Additional information on share transaction by Ian Balchin

The share options covered in this announcement were granted in October 2000.

While Mr Balchin wished to convert the substantial proportion of his options
into Stanelco plc shares and retain them, under tax regulation in the UK, where
he is resident, the exercise of the options incurs a substantial tax liability.
The majority of the shares he purchased have therefore been sold. Ian Balchin
retains options over a further 54,577,013 shares including 6,756,750 in an
approved scheme exercisable from October 2004. It is his intention to continue
to increase his holding in the Company over time.

The exercise of this option generates £133,968 in cash for the Company.


END


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