Director Shareholding

RNS Number:6857K
Savoy Asset Management PLC
02 May 2003



SAVOY ASSET MANAGEMENT PLC



Christopher Saunders, a director of Savoy Asset Management plc ("Savoy"), on 1st
May 2003, sold 46,729 ordinary 10p shares in Savoy at a price of 84.75p to an
offshore trust jointly established by himself and Tom Tutton.  Christopher
Saunder's beneficial interest in Savoy is now 811,061 ordinary shares
representing 9.65% of the issued share capital.



Tom Tutton, a significant shareholder in Savoy, on 1st May 2003, sold 46,729
ordinary 10p shares in Savoy at a price of 84.75p to an offshore trust
established jointly by himself and Christopher Saunders.  Tom Tutton's
beneficial interest in Savoy is now also 811,061 ordinary shares representing
9.65% of the issued share capital.



On 2nd May 2003 an employee of Savoy exercised options granted under an
unapproved share option scheme over 25,000 ordinary Savoy shares at an option
price of 10p per share.



End.


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