Director Shareholding

    Christian Salvesen

SCHEDULE 11

NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

All relevant boxes should be completed in block capital letters.


   Name of company                             Name of director

1. CHRISTIAN SALVESEN PLC                   2. Julian Steadman
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3. Please state whether notification        4. Name of the registered holder(s) and, if more
    indicates that it is in respect of          than one holder, the number of shares held by
    holding of the shareholder named in 2       each of them (if notified)
    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 an non-
    beneficial interest

   Director's Options
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5. Please state whether notification relates6. Please state the nature of the transaction. For
    to a person(s) connected with the           PEP transactions please indicate whether
    director named in 2 above and identify      general/single co PEP and if discretionary/non
    the connected person(s)                     discretionary /non discretionary

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7. Number of         8. Percentage of     9. Number of           10. Percentage of issued
    shares/amount of     issued class         shares/amount of        class
    stock acquired                            stock disposed


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11. Class of security12. Price per share  13. Date of transaction14. Date company informed

    N/A                  N/A                  N/A                    N/A
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15. Total holding following this            16. Total percentage holding of issued class
     notification                                following this notification




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

    10 DECEMBER 2003                            BETWEEN 10/12/2006 AND 10/12/2013 SUBJECT TO
                                                 PERFORMANCE CONDITIONS BELOW
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19. Total amount paid (if any) for grant of 20. Description of shares or debentures involved:
     the option                                  class, number

                                                OPTION OVER 362,068 ORDINARY SHARES
    NIL
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21. Exercise price (if fixed at time of     22. Total number of shares or debentures over which
     grant) or indication that price is to       options held following this notification
     be fixed at time of exercise:

    58 pence (closing mid-price on 10/12/03)    362,068 Ordinary Shares under Executive Scheme
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23. Any additional information              24. Name of contact and telephone number for
                                                 queries

    E H D PEPPIATT
                                                [phone]
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    Name and signature of authorised company official responsible for making this notification

    E H D PEPPIATT
25. COMPANY SECRETARY
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Date of notification   30 DECEMBER 2003
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