Director Shareholding

Highcroft Investments PLC
28 November 2003


                          Highcroft Investments P.L.C.

                            - Director's Dealings -



Highcroft Investments P.L.C. (the 'Company') has been informed that Mr GJ
Kingerlee, Non-Executive Chairman, and his wife Mrs M Kingerlee, yesterday sold
3000 ordinary shares in the Company and 2000 ordinary shares in the Company
respectively at a price of £4.875 per share.

Following this, Mr Kingerlee and his associates hold 172,150 ordinary shares,
representing approximately 3.3 per cent. of the Company's issued ordinary share
capital.

28 November 2003


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