Director Shareholding

RNS Number:2200P
Warner Estate Holdings PLC
01 September 2003



                   Warner Estate Holdings PLC ("the Company")

                            Directors' Shareholding



Messrs. P C T Warner, P W Collins and R Moore, Directors of the Company, each
purchased 64 Ordinary shares in the Company on 29 August 2003 at 389p each under
the Company's All Employee Share Ownership Plan ("the AESOP"). Each Director
purchased 32 of their shares as Partnership Shares and 32 shares each were
purchased by the Company as Matching Shares under the rules of the AESOP. All
shares were purchased on their behalf by Capita IRG Trustees Limited, the
Trustee of the AESOP. The Trustee will hold the Shares in Trust for a minimum
period of five years following the date of the purchase. The shares purchased
represent less than 0.001 per cent. of the Company's issued ordinary share
capital.



The Directors' total interests under the AESOP are as follows:-


                        No. of         No. of      No. of Dividend   No. of Free
                      Partnership     Matching          Shares          Shares
                        Shares         Shares

                                                                                     Total
P C T Warner              862            862              0             1,706        3,430
P W Collins               862            862              95            1,706        3,525
R Moore                   862            862              95            1,706        3,525




The Directors' other interests in the shares of the Company are unchanged.





Date: 1 September 2003.











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