Director/PDMR Shareholding

Centrica PLC Centrica plc (the Company) - Directors' and other PDMRs' share interests Centrica announces the following transactions in respect of its ordinary share capital of 6 14/81 pence each by Executive Directors and/or other Persons Discharging Managerial Responsibility (PDMRs). 1) Release and sale of shares from the Long Term Incentive Scheme (LTIS) On 4 April 2007, a total of 4,475,228 Centrica ordinary shares of 6 14/81 pence each in respect of awards made under the terms of the LTIS in April 2004 were transferred to participants, including two Executive Directors and four other PDMRs. These awards, which were subject to performance conditions*, were released by the trustee of the LTIS following the completion of the three-year performance period. * The performance condition for the LTIS award in 2004 is linked to the Company's total shareholder return (TSR) relative to the returns of its FTSE 100 comparator group. The maximum award only vests if the Company's TSR over the performance period is ranked in 25th position or above of the 100 companies in the LTIS comparator group. For the award made in 2004, at the conclusion of the performance period on 31 March 2007, the Company was ranked in 38th position in the LTIS comparator group and, accordingly, 78.3% of the award was released. On release, participants are liable to pay income tax at their marginal rate and National Insurance contributions at 1% on the value of the shares. Accordingly, the Executive Directors and other PDMRs sold shares (41%) to meet these liabilities. The shares were sold at 390.0p on 4 April 2007. In addition, on 4 April 2007, Deryk King sold 57,592 shares at 390.0p, being the balance of his 2004 allocation and Grant Dawson sold 25,000 shares at 390.5p from the net number of shares released to him from the 2004 allocation. The specific details of the release and disposals relating to the Executive Directors and other PDMRs are as follows: -0- *T Shares released Shares Net number of shares Sold transferred to participant ---------------------- ---------------- ---------------- ------------------------------ Executive Directors ====================== ---------------- ---------------- ------------------------------ Phil Bentley 126,508 51,869 74,639 ---------------------- ---------------- ---------------- ------------------------------ Jake Ulrich 130,152 53,363 76,789 ---------------------- ---------------- ---------------- ------------------------------ Other PDMRs ====================== ---------------- ---------------- ------------------------------ Grant Dawson 85,900 60,219 25,681 ---------------------- ---------------- ---------------- ------------------------------ Deryk King 97,614 97,614 0 ---------------------- ---------------- ---------------- ------------------------------ Anne Minto 81,995 33,618 48,377 ---------------------- ---------------- ---------------- ------------------------------ Chris Weston 44,251 18,143 26,108 ---------------------- ---------------- ---------------- ------------------------------ *T 2) Long Term Incentive Scheme Allocations On 4 April 2007 conditional allocations of ordinary shares in the Company were made by the trustee of the LTIS to the following Executive Directors and other PDMRs: -0- *T Executive Directors TSR shares EPS shares Total number of shares in conditional allocation ---------------------- -------------- -------------- -------------------------- Phillip Bentley 147,926 147,925 295,851 ---------------------- -------------- -------------- -------------------------- Sam Laidlaw 229,742 229,741 459,483 ---------------------- -------------- -------------- -------------------------- Nick Luff 138,273 138,272 276,545 ---------------------- -------------- -------------- -------------------------- Jake Ulrich 147,926 147,925 295,851 ---------------------- -------------- -------------- -------------------------- PDMRs ---------------------- -------------- -------------- -------------------------- Grant Dawson 59,108 59,108 118,216 ---------------------- -------------- -------------- -------------------------- Deryk King 69,300 69,299 138,599 ---------------------- -------------- -------------- -------------------------- Anne Minto 55,603 55,602 111,205 ---------------------- -------------- -------------- -------------------------- Chris Weston 57,885 57,885 115,770 ---------------------- -------------- -------------- -------------------------- *T The allocation price for calculating the number of shares was 383.3p, being the average closing share price over the five business days preceding the allocation date of 4 April 2007. The conditional allocations shown above represent the maximum potential award possible if all performance criteria are met at the end of the three-year performance period. If and to the extent that the performance criteria are satisfied at the conclusion of the performance period, the relevant number of shares will be transferred to executives at the trustee's discretion. The percentage of the allocation eventually to vest is dependent on the satisfaction of performance criteria over a three-year performance period commencing on 4 April 2007: -- half of the shares (EPS shares) will be subject to a performance condition based on the Company's growth in earnings per share (EPS)* relative to the growth in the retail prices index (RPI) (All Items) over three financial years. Growth in earnings per share (EPS) will be calculated by comparing the Company's EPS figure for the financial period preceding the date of allocation with that for the financial period three years later**; and -- half of the shares will be determined by the Company's Total Shareholder Return (TSR) performance relative to the other companies comprising the LTIS comparator group - the FTSE 100 at the start of the three-year performance period (the TSR shares). At the end of the performance period, the TSR performance condition will be measured, the same calculation made for all the other 99 companies in the LTIS comparator group and a ranking list will be compiled***. * EPS is calculated as the Company's earnings per share, adjusted for exceptional items and certain re-measurements arising on the application of IAS 32 and IAS 39. ** In respect of three quarters of the EPS shares allocated to the executive directors and all of the EPS shares allocated to the other PDMRs, the maximum allocation of such EPS shares only vests if the Company's growth in EPS exceeds growth in RPI by 30% or more. No shares vest if the growth in EPS over RPI is below 9%. Between 30% and 9% shares vest on a scale from 100% to 25%. In respect of the balance of one quarter of EPS shares allocated to the executive directors, the maximum allocation of such EPS shares only vests if the Company's growth in EPS exceeds growth in RPI by 40% or more. No shares vest if the growth in EPS over RPI is below 20%. Between 40% and 20% shares will vest pro rata on a scale from 100% to 25%. *** The maximum allocation of TSR shares only vests if the Company's TSR over the performance period is ranked in 20th position or above in the comparator group. No shares vest if the TSR over the performance period is ranked below 50th position in the Comparator Group. From 20th to 50th position, shares vest on a scale from 100% to 25%. 3) Deferred and Matching Share Scheme (DMSS) - share aquisitions and conditional allocations On 4 April 2007, the trustee of the DMSS purchased a total of 850,103 Centrica ordinary shares of 6 14/81 pence each at 390.0p and made conditional awards of matching shares in respect of participants of the DMSS, including the following Executive Directors and PDMRs. -0- *T Executive Directors Total number of Total number of shares Total number of shares acquired in already held & conditional matching DMSS (1) transferred into the shares held (5 6) DMSS (2) ----------------------------------------- ---------------------- ---------------------- Phillip Bentley 65,507 - 181,727 ----------------------------------------- ---------------------- ---------------------- Sam Laidlaw (3) 66,246 22,205 272,431 ----------------------------------------- ---------------------- ---------------------- Nick Luff (4) - 50,112 169,871 ----------------------------------------- ---------------------- ---------------------- Jake Ulrich 64,368 - 181,726 ----------------------------------------- ---------------------- ---------------------- PDMRs ----------------------------------------- ---------------------- ---------------------- Grant Dawson 32,030 - 89,742 ----------------------------------------- ---------------------- ---------------------- Deryk King 47,192 - 131,407 ----------------------------------------- ---------------------- ---------------------- Anne Minto 30,681 - 84,870 ----------------------------------------- ---------------------- ---------------------- Chris Weston 31,399 - 62,798 ----------------------------------------- ---------------------- ---------------------- *T (1) Normally, 20% of gross bonus (before the deduction of income tax and National Insurance contributions) is automatically deferred and invested in Centrica shares. Participants have the opportunity to make a further investment, funded from net annual performance bonus, so that the maximum total investment (on a gross basis) is 50% of the individual's maximum bonus entitlement for the preceding year. (2) Certain initial arrangements were agreed in respect of Sam Laidlaw and Nick Luff who joined the Board on 1 July 2006 and 1 March 2007 respectively. (3) Sam Laidlaw invested his entire bonus paid in respect of the period 1 July to 31 December 2006. He also transferred shares into the scheme that he already held, such that the total value of the investment as calculated on the basis as set out in note 1 above was equal to 50% of the maximum bonus opportunity, had he been employed for the whole of the year. (4 )Nick Luff transferred shares into the scheme that he already held equal in value to 50% of the maximum bonus opportunity had he been employed for the whole of 2006. (5 )The calculation of the conditional matching shares is made on a gross basis. Investment shares are grossed up for the calculation of the matching shares so that the deferred and investment shares are matched on the same basis. (6 )The number of matching shares that vest will be determined on a straight-line basis from a zero match for no growth in economic profit to a two-times match for growth of 25% or above over a three-year period. Following the release of the 2004 LTIS allocation and the purchase of shares in respect of the DMSS, the Centrica Employee Share Trust, in which the Executive Directors and other PDMRs along with other Centrica group employees have a potential interest, holds 862,358 shares. 4) Exercise of Executive Share Option Scheme (ESOS) and sale of shares On 4 April 2007, Jake Ulrich exercised 356,145 options that had been awarded to him in March 2004 under the Executive Share Option Scheme (ESOS). After shares were sold to satisfy the payment of the exercise price of 223.95p, income tax at 40% and National Insurance at 1%, the balance of 90,149 shares were sold on behalf of Mr Ulrich. All of the above share transactions were carried out on 4 April 2007 at a price of 394.0p 5) Grant of Sharesave Options Options were granted at an option price of 291.3 pence per share to Phil Bentley, Sam Laidlaw and Jake Ulrich under the terms of the Centrica Sharesave scheme on 4 April 2007. Each was granted an option over 3,244 shares which will be exercisable between 1 June 2010 and 30 November 2010. 6) Sale of Shares On 3 April 2007, Deryk King sold a total of 74,924 shares (21,870 shares were sold at 392.81p and 53,054 shares were sold at 393.75p). 7) Current Share Interests Following the LTIS release, the LTIS allocation, share purchases and matching share awards under the DMSS, the grant of Sharesave options and the sale of shares, the Executive Directors and other PDMRs retain an interest in the share capital of the Company as follows: -0- *T Directors' and PDMRs' interests in shares ------------------------------------------------------------------------------ Ordinary Share LTIS - DMSS - DMSS - shares Incentive conditional total number total matching of Plan upon of shares shares 6 14/81p performance invested ----------- --------- ----------- -------------- -------------- -------------- Executive Directors =========== --------- ----------- -------------- -------------- -------------- Phil Bentley 531,568 4,104 740,346 65,507 181,727 ----------- --------- ----------- -------------- -------------- -------------- Sam Laidlaw 177,795 258 891,320 88,451 272,431 ----------- --------- ----------- -------------- -------------- -------------- Nick Luff 149,888 - 276,545 50,112 169,871 ----------- --------- ----------- -------------- -------------- -------------- Jake Ulrich 792,281 4,002 743,626 64,368 181,726 ----------- --------- ----------- -------------- -------------- -------------- ----------- --------- ----------- -------------- -------------- -------------- Other PDMRs =========== --------- ----------- -------------- -------------- -------------- Grant Dawson 241,244 4,105 383,194 32,030 89,742 ----------- --------- ----------- -------------- -------------- -------------- Deryk King 221,085 4,324.47(a) 446,284 47,192 131,407 ----------- --------- ----------- -------------- -------------- -------------- Anne Minto 160,983 3,473 361,620 30,681 84,870 ----------- --------- ----------- -------------- -------------- -------------- Chris Weston 99,213 2,888 322,788 31,399 62,798 ----------- --------- ----------- -------------- -------------- -------------- *T (a) held under the North American Employee Share Purchase Plan -0- *T Directors' and PDMRs' interests in options --------------------------------------------------------------------- Executive Share Executive Sharesave Options - vested but Share Options Options not yet exercised - conditional upon performance --------------- ---------------------- -------------- --------------- Executive Directors =============== ---------------------- -------------- --------------- Phil Bentley 1,573,372 874,407 8,405 --------------- ---------------------- -------------- --------------- Sam Laidlaw - - 3,244 --------------- ---------------------- -------------- --------------- Nick Luff - - - --------------- ---------------------- -------------- --------------- Jake Ulrich 1,317,890 885,860 3,244 --------------- ---------------------- -------------- --------------- --------------- ---------------------- -------------- --------------- Other PDMRs =============== ---------------------- -------------- --------------- Grant Dawson 1,055,446 583,514 15,336 --------------- ---------------------- -------------- --------------- Deryk King 584,179 677,458 - --------------- ---------------------- -------------- --------------- Anne Minto 832,100 552,890 3,928 --------------- ---------------------- -------------- --------------- Chris Weston 190,930 370,645 3,928 --------------- ---------------------- -------------- --------------- *T The total number of Centrica shares in issue as at the end of 4 April 2007 is 3,669,183,000. -0- *T Enquiries: Media Relations 01753 494084 Investor Relations 01753 494900 *T

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