Director Shareholding

Highcroft Investments PLC
04 September 2003



                         Highcroft Investments plc ('the Company')


The board was informed yesterday that David Kingerlee, a Director of the
Company, sold 5,000 Highcroft ordinary shares at a price of 435 pence per share
to the JM Kingerlee Settlement Trust on 3 September 2003, of which his infant
children are beneficiaries.



Mr Kingerlee and Mr Bowman, who is also a Director of the Company, are both
trustees to the JM Kingerlee Settlement Trust.



Following this sale Mr Kingerlee's interest in the Company's ordinary share
capital remains unchanged and is registered in the following names:


                                    Number of Ordinary              Per cent. of 
                                           Shares                issued ordinary 
                                                                   share capital

Mr and Mrs DH Kingerlee                         98,900                      1.9%
Kingerlee Settlement Trust                      60,600                      1.2%

Total                                          159,500                      3.1%



Accordingly as a trustee Mr Bowman's non-beneficial interest increases to 77,748
ordinary shares representing 1.5% of the Company's issued ordinary share
capital.



04 September 2003




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