Director Shareholding

Crest Nicholson PLC
15 June 2005


On 14 June 2005, the following directors purchased shares under the Company's
Share Incentive Plan:


Director       Shares purchased    Matching Shares to Director  

P. Callcutt    33                  17                           
D.P. Darby     33                  17                           
S. Stone       33                  17                           


The shares were purchased at a price of 383.40p and will normally vest after 5
years.


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