Director Shareholding

United Overseas Group PLC
31 August 2001



                  UNITED OVERSEAS GROUP PLC (the 'Company')

                            Director Shareholding

The Company announces that Jeffrey Curtiss, Group Chief Executive, purchased
1,000,000 ordinary shares of 1p each in United Overseas Group at 2.5p per
share on 31 August 2001.

Following this acquisition, Jeffrey Curtiss and Madeleine Sandersson-Curtiss,
the underwriters of the recent Rights Issue, hold a total of 289,734,309
ordinary shares, which represents 76.30% of the Company's issued share
capital.


31 August 2001