Directors' Dealings, etc

RAPHAEL ZORN HEMSLEY HOLDINGS LIMITED
9 September 1999


RAPHAEL ZORN HEMSLEY HOLDINGS PLC (RZHH')

'RZHH announces that it has today issued and alloted a total of 60,000 (0.4%)
ordinary shares to Mr M S Rosenberg (20,000) and Mr T J Leader (40,000), both of
whom are Directors of RZHH, following an exercise of share options at an
exercise price of 30p per share. The shares will rank pari passu with all
existing ordinary shares.

Following this exercise, Mr Rosenberg holds a total of 452,992 ordinary shares
and Mr Leader 140,000 ordinary shares, representing a 3.04% and 0.94% interest
in the ordinary share capital of RZHH.

Application for the admission of these ordinary shares to trading on AIM has
been made to the London Stock Exchange.  The shareholdings above refer to the
Company's issued Ordinary Share Capital of 25 pence per share.'