Director Shareholding

BWD Securities PLC
06 August 2003

BWD SECURITIES PLC

Company Announcement

On 5 August 2003, B A Anysz, a director of the Company, exercised options under
the Company's Employee Share Ownership Plan over 10,000 ordinary 10 pence shares
of the Company. The total consideration payable upon exercise was £1. Following
this exercise, the total beneficial holding of B A Anysz increased to 200,000
ordinary 10 pence shares of the Company.

END



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