Director Shareholding

Falkland Islands Holdings PLC
30 July 2001



Falkland Islands Holdings plc 
Falkland Islands Holdings plc, Employees Share Ownership Plan Trust ('the ESOP')

The following share options were granted to a Director under the ESOP on 27th
July 2001 at an exercise price of 139.5p per share. No consideration was paid
for the options, which are subjected to meeting a specific performance target
(EPS growth to exceed inflation by at least 6% in any 3 year period.)
 
Director             Number of Shares Under option      Exercise period

Bryan McGreal                  6,500                  27.7.2004 - 26.7.2011