Director Shareholding

Spirax-Sarco Engineering PLC
23 March 2005


                                 SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS


1. Name of company

SPIRAX-SARCO ENGINEERING PLC


2. Name of director

PETER ANTHONY SMITH


3. Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18 or in respect of a non-beneficial
interest

PETER ANTHONY SMITH


4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them (if notified)

PETER ANTHONY SMITH


5. Please state whether notification relates to a person(s) connected with the
director named in 2 above and identify the connected person(s)

PETER ANTHONY SMITH


6. Please state the nature of the transaction. For PEP transactions please
indicate whether general/single co PEP and if discretionary/non discretionary

EXERCISE OF OPTIONS OVER 87,500 SHARES & SALE


7. Number of shares / amount of stock acquired

87,500


8. Percentage of issued class

0.116%


9. Number of shares/amount of stock disposed

87,500


10. Percentage of issued class

0.116%


11. Class of security

ORDINARY


12. Price per share

Sale: 712p

Exercise: 10,000 options @ 669p each, 10,000 options @ 420p each, 15,000 options
@ 525p each, 15,000 options @ 319.16666p each, 20,000 options @ 397.66666p each
and 17,500 options @ 436p each


13. Date of transaction

23.3.05


14. Date company informed

23.3.05


15. Total holding following this notification

20,059


16. Total percentage holding of issued class following this notification

0.027%


If a director has been granted options by the company please complete the
following boxes.


17. Date of grant




18. Period during which or date on which exercisable




19. Total amount paid (if any) for grant of the option




20. Description of shares or debentures involved: class, number




21. Exercise price (if fixed at time of grant) or indication that price is to be
fixed at time of exercise



22. Total number of shares or debentures over which options held following this
notification



23. Any additional information



24. Name of contact and telephone number for queries

FAY RICKETTS, TEL. [phone]


25. Name and signature of authorised company official responsible for making
this notification

FAY RICKETTS


Date of Notification

23.3.05



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