Directors' Notification of Dealing in Shares

Caldwell Investments PLC
16 May 2000

Caldwell Investments PLC announces that it has today been informed that its
Chairman S.J. Wootliff, has today purchased 100,000 Ordinary Shares in the
Company at a price of 21 3/4p per share.  Following this purchase his holding in
the company is 1,530,026 Ordinary Shares representing 11.1% of the issued share
capital.