Director Shareholding(s)

Crest Nicholson PLC
11 December 2001


Schedule 11 - Notification of interests of Directors and Connected Persons

1   Name of company:
Crest Nicholson Plc

2   Name of director:
D. Ross

3   Please state whether notification indicates that it is in respect of     
holding of the director named in 2 above or holding of that person's spouse or
children under the age of 18 or in respect of a non- beneficial interest:
D. Ross

4   Name of 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 SAYE options and transfer to spouse.

7   Number of shares/amount of stock acquired:
9,750

8   Percentage of issued class:
0.01%

9   Number of shares/amount of stock disposed:
-

10  Percentage of issued class:
-

11  Class of security:
10p Ordinary Shares

12  Price per share:
Exercise price of 100p

13  Date of transaction:
11.12.01

14  Date company informed:
11.12.01

15  Total holding following this notification:
25,750

16  Total percentage holding of issued class following this notification:
0.02%

If a director has been granted options by the company, please complete the
following fields:

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  Contact name for queries:
W.G. Hague

24  Contact telephone number:
01932 848272

25  Name of company official responsible for making notification:
W.G. Hague

Additional Information: