Director Shareholding

RNS Number:4921N
Rugby Estates PLC
11 July 2003


                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

Name of company

Rugby Estates Plc

2) Name of director
Neal Taylor

3) Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or in respect of a non-beneficial
interest or in the case of an individual holder if it is a holding of that
person's spouse or children under the age of 18 or in respect of a
non-beneficial interest

Director


4) Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them (if notified)


5) Please state whether notification relates to a person(s) connected
with the Director named in 2 above and identify the connected person(s)


6) Please state the nature of the transaction. For PEP transactions
please indicate whether general/single co PEP and if discretionary/non
discretionary
Acquisition by All Employee Share Plan

7) Number of shares/amount of
stock acquired
1,395

8) Percentage of issued class
0.01%

9) Number of shares/amount
of stock disposed

10) Percentage of issued class


11) Class of security

Ord 20p

12) Price per share

228.2p

13) Date of transaction
11 July 2003

14) Date company informed
11 July 2003

15) Total holding following this notification

69,674

16) Total percentage holding of issued class following this notification

0.61%

If a director has been granted options by the company please complete the
following boxes

17) Date of grant

18) Period during which or date on which exercisable


19) Total amount paid (if any) for grant of the option


20) Description of shares or debentures involved: class, number


21) Exercise price (if fixed at time of grant) or indication that price
is to be fixed at time of exercise


22) Total number of shares or debentures over which options held
following this notification

23) Any additional information

1,314 shares acquired for the Director as Free Shares and 81 shares as Dividend
Shares by the company's All Employee Share Plan

The total holding shown above now includes 4,393 shares conditionally awarded to
the director by the company's All Employee Share Plan, the awards of which were
previously reported by the Plan separately from the Directors interests.



24) Name of contact and telephone number for queries

Stephen Jones 020 7632 2200 [e-mail]

25) Name and signature of authorised company official responsible for
making this notification

Date of Notification......11/7/03............................






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