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Paladin Resources (PLR)

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Friday 04 April, 2003

Paladin Resources

Director Shareholding

Paladin Resources PLC
04 April 2003

                             PALADIN RESOURCES plc

                                ("the Company")

                         Directors' Interests in Shares

By a written resolution of the Remuneration Committee of the Company passed on 4
April 2003, options were granted to Executive Directors and other employees
under the Company's Executive Share Option Scheme ("the Approved Scheme") and
the Company's 1998 Unapproved Share Option Scheme ("the Unapproved Scheme") and
awards were made to Executive Directors and other employees under the Company's
Long Term Incentive Plan 2000 ("LTIP").

The options granted to Executive Directors were as follows:

Name of Director          Approved Scheme          Unapproved Scheme

P Davison                       41,666                70,222

RA Franklin                     41,666               143,649

CJ McDowell                     41,666                70,222

DJB Stewart-Roberts                  -                87,413

The exercise price of each option granted under the Approved Scheme is 72.00
pence and the exercise price of each option granted under the Unapproved Scheme
is 71.67 pence. Half of the options granted under each Scheme will become
exercisable three years following the date of grant, provided that the total
shareholder return ("TSR") of the Company during that period increases by a
percentage amount that is equal to or greater than the percentage change in the
Retail Prices Index ("RPI") plus 3% per annum over the same period. The
remaining 50% of the options will become exercisable three years following the
date of grant, provided that the TSR of the Company during that period increases
by a percentage amount that is equal to or greater than the percentage change in
the RPI plus 5% per annum over the same period, with a sliding scale between the
3% and 5% points. The options expire six years after the date of grant.

The total number of options held by the Executive Directors under the Schemes
are now as follows:

Name of Director          Approved Scheme          Unapproved Scheme

P Davison                       41,666                537,198

RA Franklin                     41,666                894,074

CJ McDowell                     41,666                537,198

DJB Stewart-Roberts             42,780                248,552

The awards to Executive Directors under the LTIP were as follows:

Name of Director          No. of LTIP shares

P Davison                      223,776

RA Franklin                    370,629

CJ McDowell                    223,776

DJB Stewart-Roberts            174,825

The total awards held by Executive Directors under the LTIP are now as follows:

Name of Director          No. of LTIP shares

P Davison                  1,118,776

RA Franklin                1,812,629

CJ McDowell                1,118,776

DJB Stewart-Roberts          174,825



The extent to which 50% of the award made under the LTIP will vest under normal
conditions at the end of a three year performance period commencing on the date
of the award depends on the Company's TSR during that period, measured against
that of a group of nine comparator companies selected by the Remuneration
Committee. The vesting schedule is as follows:

Position of the Company versus

comparator group companies          Vesting

1st                                50%

2nd                                40%

3rd                                30%

4th                                20%

5th                                10%

Lower than 5th                     Nil

The extent to which the remaining 50% of the award made under the LTIP will vest
under normal conditions at the end of the three year performance period will
depend on the Company's return on equity ("ROE"), calculated annually and then
averaged over three years beginning with the year in which the award is made. No
shares will vest if the ROE achieved is below 10%. Between 5% and 37.5% of the
total award will vest (on a straight-line basis) if the ROE achieved is between
10% and 15%, and the remaining 12.5% of the total award will vest (again on a
straight-line basis) if the ROE achieved is between 15% and 20%. No additional
shares will vest if the ROE achieved is higher than 20%.

4 April 2003

Enquiries:

Paladin Resources plc

Sally Powell, Company Secretary                    020 7024 4500

College Hill

Phil Wilson-Brown                                  020 7457 2020



                      This information is provided by RNS
            The company news service from the London Stock Exchange