Director Shareholding

United Overseas Group PLC
21 September 2001



                  UNITED OVERSEAS GROUP PLC (the 'Company')

                            Director Shareholding

The Company announces that Jeffrey Curtiss, Group Chief Executive, purchased
500,000 ordinary shares of 1p each in United Overseas Group at 2.5p per share
on 21 September 2001.

Following this acquisition, Jeffrey Curtiss and Madeleine Sandersson-Curtiss,
the underwriters of the recent Rights Issue, hold a total of 297,034,309
ordinary shares, which represents 78.22% of the Company's issued share
capital.

21 September 2001