Director Shareholding

Caledonia Investments PLC
27 May 2004



CALEDONIA INVESTMENTS PLC - GRANT OF SHARE OPTIONS

Caledonia Investments plc ('Caledonia') announces that on 26 May 2004 options
over ordinary 5p shares ('Shares') in the company were granted to executive
directors under the Caledonia Investments plc 1998 Executive Share Option Scheme
('the 1998 Scheme') at an exercise price of 1055p per share as follows:

Executive Director                                   No. of Shares over which 
                                                       options granted

T C W Ingram                                         32,700
C W Cayzer                                           16,500
J H Cartwright                                       22,800
J M May                                              25,900

Subject to the rules of the 1998 Scheme, options are exercisable between three
and ten years after the date of grant.

 The total number of Shares under option held by the above-mentioned executive
directors of Caledonia following these option grants are as follows:

Executive Director                                   Total no. of Shares over 
                                                       which options granted

T C W Ingram                                         234,100
C W Cayzer                                           110,600
J H Cartwright                                       163,600
J M May                                              81,900




Enquiries:

G P Denison

Company Secretary

Caledonia Investments plc                                 020 7802 8080

27 May 2004


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