Director Shareholding

Lowland Investment Co PLC
09 July 2004

                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1. Name of company
LOWLAND INVESTMENT COMPANY

2. Name of director
MS TRACY LONG

3. Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18 or in respect of a non-beneficial
interest
AS IN ABOVE

4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them (if notified)
ADAM AND COMPANY NOMINEES

5. Please state whether notification relates to a person(s) connected with the
director named in 2 above and identify the connected person(s)
AS IN 2 ABOVE

6. Please state the nature of the transaction. For PEP transactions please
indicate whether general/single co PEP and if discretionary/non discretionary
BENEFICIAL SHARE PURCHASE

7. Number of shares / amount of stock acquired
2,000

8. Percentage of issued class
0.010%

9. Number of shares/amount of stock disposed
-

10. Percentage of issued class
-

11. Class of security
ORDINARY SHARES

12. Price per share
573.9P

13. Date of transaction
5 JULY 2004

14. Date company informed
9 JULY 2004

15. Total holding following this notification
2,000

16. Total percentage holding of issued class following this notification
0.010%

If a director has been granted options by the company please complete the
following boxes.

17. Date of grant
-

18. Period during which or date on which exercisable
-

19. Total amount paid (if any) for grant of the option
-

20. Description of shares or debentures involved: class, number
-

21. Exercise price (if fixed at time of grant) or indication that price is to be
fixed at time of exercise
-

22. Total number of shares or debentures over which options held following this
notification
-

23. Any additional information
-

24. Name of contact and telephone number for queries
KRISTA BURWOOD - 020 7818 2966

25. Name and signature of authorised company official responsible for making
this notification
KRISTA BURWOOD, FOR AND ON BEHALF OF HENDERSON SECRETARIAL SERVICES LIMITED

Date of Notification
9 JULY 2004


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