Director Shareholding

BWD Securities PLC
16 April 2003



BWD SECURITIES PLC



Company Announcement



BWD SECURITIES PLC - SAVINGS RELATED SHARE OPTION SCHEME


Options have today been granted over a total of 665,501 Ordinary Shares in the
Company at an option price of £2.45 per share.


The number of options granted under the Scheme to Directors of the Company are
as follows:


R A Allen                                                3,857
B A Anysz                                                3,857
M H Burns                                                3,857
G C N Lane Fox                                           3,857
N C Williams                                             3,857
J P Wragg                                                3,857




END


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