Director Shareholding

Seascope Shipping Holdings PLC
15 March 2001


                       DEALINGS BY DIRECTORS


1)  NAME OF COMPANY

    SEASCOPE SHIPPING HOLDINGS PLC

2)  NAME OF DIRECTOR

    DEREK WALTER

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 an non-beneficial interest

    AS 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)

    DEREK WALTER

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

    -

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

    -

7)  Number of shares/amount of
    stock acquired

    N/A

8)   (N/A %)
    of issued Class


9)  Number of shares/amount
    of stock disposed

    N/A

10)  (N/A %)
    of issued Class


11) Class of security

    N/A

12) Price per share

    N/A

13) Date of transaction

    N/A

14) Date company informed

    N/A

15) Total holding following this notification

    -

16) Total percentage holding of issued class following this notification

    -

     IF A DIRECTOR HAS BEEN GRANTED OPTIONS BY THE COMPANY PLEASE
                    COMPLETE THE FOLLOWING BOXES

17) Date of grant

    9 MARCH 2001

18) Period during which or date on which exercisable

    23,333 ORDINARY SHARES   EXERCISABLE FROM THE DAY AFTER THE AGM APPROVING
                             THE RESULTS FOR THE FINANCIAL YEAR ENDING 28
                             FEBRUARY 2002 TO 8 MARCH 2011

    23,333 ORDINARY SHARES   EXERCISABLE FROM THE DAY AFTER THE AGM APPROVING
                             THE RESULTS FOR THE FINANCIAL YEAR ENDING 28
                             FEBRUARY 2003 TO 8 MARCH 2011

    23,334 ORDINARY SHARES   EXERCISABLE FROM THE DAY AFTER THE AGM APPROVING
                             THE RESULTS FOR THE FINANCIAL YEAR ENDING 28
                             FEBRUARY 2004 TO 8 MARCH 2011    

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

    N/A

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

    70,000 ORDINARY SHARES OF 10P

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

    181.5P

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

    70,000

23) Any additional information

    -

24) Name of contact and telephone number for queries

    DEREK WALTER        020 7903 2727

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

   Date of Notification      15 MARCH 2001