Director Shareholding

    19 June2003

London Stock Exchange

Old Broad Street

London EC2N 1HP

Dear Sirs

Capital Radio plc - Notification of Directors' Interests

On 18 June 2003, David Mansfield exercised 10,348 options which were granted on
3 July 1993 under the Capital Radio 1986 Senior Executive Share Option Scheme:-

     Date of Grant         Number of Options            Option Price       
                                                                           
      1 July 1993                10,348                    £1.72           

This exercise has taken place due to the fact that the ten-year period for
these options will expire on 1 July 2003.

Following exercise of these options, David Mansfield holds 111,320 shares in
the Company.

Yours faithfully

Nathalie Schwarz

Company Secretary



END