Director Shareholding

Crest Nicholson PLC
7 March 2002



Crest Nicholson Plc advises that on 7 March 2002 the following directors have
been given awards of ordinary shares in the Company under the Crest Nicholson
Long Term Share Incentive Plan:

Director                No. of ordinary shares
J. Callcutt              66,478
J.C. Littler             38,295
P. Callcutt              30,595
S. Stone                 44,353

Performance period is 1 November 2001 to 31 October 2005.




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