Director Shareholding

Terrace Hill Group PLC
28 January 2005



TERRACE HILL GROUP PLC ('the Group' or 'Terrace Hill')


DIRECTOR SHAREHOLDING


The Group announces that it was notified today that Mr Kenneth Grundy, Director
of the Group, today purchased 5,000 Shares in the Group at a price of 35p per
share representing 0.003% of the current issued share capital of Terrace Hill.
Mr Grundy's interest in the share capital of the Group has increased from 10,000
Shares (0.005%) to 15,000 Shares (0.008%).

The Shares referred to in this announcement are the issued Ordinary Shares of 2p
each in the Group.


Contacts:

Alasdair Robinson, Noble & Company Limited      0131 225 9677



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