Director Shareholding

RNS Number:1908T
Rugby Estates PLC
12 December 2003


                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

Name of company

Rugby Estates Plc

2) Name of director
David Tye

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

2,155

8) Percentage of issued class

0.02%

9) Number of shares/amount
of stock disposed

10) Percentage of issued class

11) Class of security

Ord 20p

12) Price per share

See below

13) Date of transaction
11 December 2003

14) Date company informed
11 December 2003

15) Total holding following this notification

2,690,723

16) Total percentage holding of issued class following this notification

23.65%

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

31 Dividend shares purchased at 256.5p

708 Partnership shares purchased at 211.8p

1416 Matching shares conditionally awarded at 211.8p

These shares are held by the Trustees of the Rugby Estates Plc All Employee

Share Ownership Plan in accordance with the Rules of the Plan



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......12/12/03............................






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