Director Shareholding

Fisher (James) & Sons PLC
11 March 2003

                   James Fisher and Sons PLC ('the Company')

                              Directors Interests

On 10 March 2003 the Company granted options under its Executive Share Option
Plan over ordinary shares of 25p each in the capital of the Company ('Ordinary
Shares') to directors of the Company as follows:

T.C. Harris                             130,282
R.A.F. Buchanan                          84,507
M.J.Shields                              62,324
I.M. Serjent                             70,423

0The options are exercisable at 142p per Ordinary Share and are only exercisable
if certain performance criteria are achieved. The options are exercisable
between the third and tenth anniversary of grant subject to meeting these
performance criteria. No consideration has been paid for the grant of the
options.

Following the grant of options over Ordinary Shares set out above the directors
have the following number of Ordinary Shares under option:

T.C. Harris                             130,282
R.A.F. Buchanan                         247,100
M.J.Shields                             283,699
I.M. Serjent                            270,423

11 March 2003




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