LongTerm Share Incentive Plan

Crest Nicholson PLC
06 February 2003

Crest Nicholson Plc advises that on 6 February 2003 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                       87,041
S Stone                          61,124
P Callcutt                       42,787


Performance period is 1 November 2002 to 31 October 2006.


                      This information is provided by RNS
            The company news service from the London Stock Exchange