Director Shareholding

Derwent Valley Holdings PLC
9 January 2002


                                  SCHEDULE 11

         NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1)  Name of company:
     Derwent Valley Holdings PLC

2)  Name of director:
     Simon J. Neathercoat

3)  Please state whether notification indicates that it is in respect of
    holding of the shareholder named in 2 above or in respect of a
    non-beneficial interest or in the case of an individual holder if it is a
    holding of that person's spouse or children under the age of 18 or in
    respect of a non-beneficial interest:
     Holding of above named Director

4)  Name of the registered holder(s) and, if more than one holder, the number
    of shares held by each of them (if notified):
     Not 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:
     Acquisition of shares

7)  Number of shares/amount of stock acquired:
     1000

8)  Percentage of issued class:
     0.002%

9)  Number of shares/amount of stock disposed:
     0

10) Percentage of issued class:
     0%

11) Class of security:
     5p Ordinary shares

12) Price per share:
     £6.47

13) Date of transaction:
     January 9, 2002

14) Date company informed:
     January 9, 2002

15) Total holding following this notification:
     1000 shares

16) Total percentage holding of issued class following this notification
     0.002%

    If a director has been granted options by the company please complete the
    following boxes

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) Any additional information:


24) Name of contact and telephone number for queries:
     Mr T J  Kite - 020 7659 3000

     Name and signature of authorised company official responsible for making
25) this notification:
     Mr T J Kite

    Date of Notification:   January..9........................        2002