Director Shareholding

Cardiff Property PLC
14 January 2003


                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1)Name of company

THE CARDIFF PROPERTY PLC

2)Name of director having a major interest

J RICHARD WOLLENBERG

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

HOLDING OF 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)

J RICHARD WOLLENBERG

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

NO

6) Please state the nature of the transaction.

GRANT OF OPTION TO PURCHASE SHARES FOR THE DIRECTORS WHOLLY BENEFICIAL INTEREST

7) Number of shares/amount of stock acquired

-

8) Percentage of issued class

-

9) Number of shares/amount of stock disposed

-

10) Percentage of issued class

-

11) Class of security

-

12) Price per share

-

13) Date of transaction

-

14) Date company informed

-

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

14 JANUARY 2003

18) Period during which or date on which exercisable

14 JANUARY 2006 - 13 JANUARY 2013

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

£1

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

OPTION OVER 10,000 ORDINARY SHARES OF 20P EACH

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

£5.15

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

91,500

23) Any additional information

OPTION GRANTED PURSUANT TO THE CARDIFF PROPERTY PLC 1998 UNAPPROVED SHARE OPTION
SCHEME AND SUBJECT TO THE SATISFACTION OF PERFORMANCE CONDITIONS

24) Name of contact and telephone number for queries

DAVID A WHITAKER, 01784 437444

25) Name of Company official responsible for making notification:

DAVID A WHITAKER, 01784 437444


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