Director Shareholding

BWD Securities PLC
03 April 2003

BWD SECURITIES PLC



Company Announcement



BWD SECURITIES PLC - DIRECTORS' DEALINGS IN SHARES



The Company was informed on 2 April 2003 of the following transactions, all of
which took place on 2 April 2003:



C.G. Clarke, a director of the Company, bought 10,000 ordinary shares in the
Company at £3.07 per share.  His total beneficial holding after the purchase is
15,000 ordinary shares.



A. Tyrie, a director of the Company, bought 5,000 ordinary shares in the Company
at £3.07 per share.  His total beneficial holding after the purchase is 5,000
ordinary shares.



K. Michel, a director of the Company, bought 1,000 ordinary shares in the
Company at £3.07 per share.  Her total beneficial holding after the purchase is
1,000 ordinary shares.



G.C.N. Lane Fox, a director of the Company, bought 1,000 ordinary shares in the
Company at £3.07 per share.  His total beneficial holding after the purchase is
1,000 ordinary shares.



B.A. Anysz, a director of the Company, sold 7,000 ordinary shares in the Company
at £3.06 per share.  His total beneficial holding after the disposal is 190,000
ordinary shares.



T.C. Jason Wood, a director of the Company, sold 3,700 ordinary shares in the
Company at £3.06 per share.  His total beneficial holding after the disposal is
420,100 ordinary shares.






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