Director Shareholding

Cardiff Property PLC
20 January 2004


                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS


1. Name of company

THE CARDIFF PROPERTY PLC


2. Name of director

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 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)




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

EXERCISE OF OPTIONS


7. Number of shares / amount of stock acquired

16,500


8. Percentage of issued class

0.81%


9. Number of shares/amount of stock disposed



10. Percentage of issued class



11. Class of security

Ordinary shares of 20p each


12. Price per share

10,000 at 158p
6,500 at 208p


13. Date of transaction

13 JANUARY 2004


14. Date company informed

13 JANUARY 2004


15. Total holding following this notification

466,298


16. Total percentage holding of issued class following this notification

22.94%


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 grant of the option



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



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



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



23. Any additional information

The company confirms that the total number of 20p ordinary shares in issue is
2,032,280


24. Name of contact and telephone number for queries

01784 437 444


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

D WHITAKER


Date of Notification

20 JANUARY 2004







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