Directors' Dealings

BWD Securities PLC
14 March 2000


DIRECTORS DEALING IN SHARES

B.A. Anysz a director of the company has today sold 10,955 ordinary shares at
662p per share.  His total beneficial holding following the sale is 200,000
ordinary shares.

M.H. Burns a director of the company has today sold 10,955 ordinary shares at
662p per share.  His total beneficial holding following the sale is 100,000
ordinary shares.

N.C. Williams a director of the company has today sold 28,000 ordinary shares
at 662p per share.  His total beneficial holding following the sale is 444,000
ordinary shares.  His total non-beneficial holding remains at 6,606 ordinary
shares.

T.C. Jason Wood a director of the company has today sold 1,200 ordinary shares
at 662p per share.  His total beneficial holding following the sale is 428,800
ordinary shares.