Director Shareholding

Crest Nicholson PLC
5 February 2001


              Crest Nicholson plc ('the Company')
                               
Crest Nicholson plc has been advised on 31 January 2001 that
the following director has been given an award of ordinary
shares in the Company on 31 January 2001 under The Crest
Nicholson Long Term Share Incentive Plan:


Director      No. of ordinary shares
P Callcutt            30,927

Performance period is 1 November 2000 to 31 October 2004.