Directors' Dealings

Terrace Hill Group PLC
19 August 2004


TERRACE HILL GROUP PLC ('the Group')


DIRECTORS' DEALINGS



The Group announces that it was notified today of the following Directors' share
transactions in the Group as follows:



1.   Mr Philip Leech, Director of the Group, has today purchased 30,000 Shares 
     in the Group. Mr Leech's interest in the share capital of the
     Group has increased from 10,000 Shares (0.005%) to 40,000 Shares (0.022%).



2.   Mr Nigel James Cavers Turnbull, Joint Managing Director of the Group, has 
     today purchased 10,000 Shares in the Group. Mr Turnbull's interest in
     the share capital of the Group has increased from 155,000 Shares (0.083%) 
     to 165,000 Shares (0.089%).



3.   Donald Ross Macdonald, Joint Managing Director of the Group, has today 
     sold 10,000 Shares in the Group to his retirement annuity fund
     and purchased a further 10,000 Shares in the Group on the market. Mr 
     Macdonald's interest in the share capital of the Group (excluding the 
     holding in his retirement annuity fund) remains at 558,522 Shares 
     representing 0.30% of the current issued share capital of the Group.


All of the above share dealings were transacted at 30p per share.


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



For further information please contact:



Alasdair Robinson, Noble & Company Limited, 0131 225 9677



END


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