Director Shareholding

Crest Nicholson PLC
14 April 2004

On 14 April 2004, the following directors purchased shares under the Company's
Share Incentive Plan:


Director                     Shares purchased        Matching Shares to Director

P. Callcutt                        36                            18

D.P. Darby                         36                            18

S. Stone                           36                            18

The shares were purchased at a price of 350.99p and will normally vest after 5
years.




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