Director Shareholding

Swan Hill Group PLC
24 March 2003

Allocation of Shares Under The Swan Hill RSS to Executive Directors





This is to advise that on the 21st March 2003 Mr J A Theakston and Mr C R Archer
were allotted shares under the Company's Restricted Share Scheme.   The number
of shares allotted were:-



J A Theakston            -            150,000



C R Archer               -            125,000


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