Director Shareholding

Gooch & Housego PLC
23 July 2004

On 8 June 2004, Gooch & Housego announced the approval by shareholders of the
adoption of a new share option scheme, 'The Gooch & Housego PLC 2004 Share
Option Scheme'.



In accordance with the terms of the scheme, the Remuneration Committee of the
Directors of Gooch & Housego has recommended to the Board proposals for the
grant of options under the scheme to two directors of the Company and the
Company confirms that the following options have today been granted:


Director                                  Number of      Exercise       Exercise Period
                                      Share Options         Price
                                      
G Jones                                     137,142        133.5p       23 July 2005 to 22 April 2014
Chief Executive                             137,142        133.5p       23 July 2006 to 22 April 2014
                                            137,142        133.5p       23 July 2007 to 22 April 2014
                                            137,142        133.5p       23 July 2008 to 22 April 2014

Ian Bayer                                    85,714        133.5p       23 July 2005 to 22 April 2014
Finance Director                             85,714        133.5p       23 July 2006 to 22 April 2014
                                             85,714        133.5p       23 July 2007 to 22 April 2014
                                             85,714        133.5p       23 July 2008 to 22 April 2014



The options may be exercised on the achievement of certain financial performance
criteria.  50 per cent. of each allocation of options may be exercised from the
earliest exercise date if the earnings per share figure for the Company has
risen, since the date of grant, by a rate equivalent to the growth in the Retail
Prices Index plus 3 per cent..  The remaining 50 per cent. of each allocation of
options may be exercised from the earliest exercise date if the earnings per
share figure for the Company has risen, during the preceding twelve months, by a
rate equivalent to the growth in the Retail Prices Index plus 6 per cent..



In addition options over a total of 421,850 new ordinary shares have been
granted to the presidents of the US subsidiaries, Cleveland Crystals Inc., NEOS
Technologies Inc., and Optronic Laboratories Inc., all of which are subject to
performance conditions and are exercisable at 133.5 pence per share.


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