Director Shareholding

RNS Number:5558T
Warner Estate Holdings PLC
22 December 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 56 Ordinary shares in the Company today at 456p each under the
Company's All Employee Share Ownership Plan ("the AESOP"). Each Director
purchased 28 of their shares as Partnership Shares and 28 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              980            980              0             1,706        3,666
P W Collins               980            980             167            1,706        3,833
R Moore                   980            980             167            1,706        3,833




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





Date: 22 December 2003.










                      This information is provided by RNS
            The company news service from the London Stock Exchange
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