Director Shareholding

The Company has received notification from its Directors of their shareholdings
in Chesnara plc Ordinary 5p shares as a result of the demerger from Countrywide
Assured Group on the 25th May 2004. There have been no transactions in shares
since this date. The shareholdings are as follows:

Name of Director          No. of Beneficial share held
                                                      
C H Sporborg              75,000                      
                                                      
G L Kettleborough         4,431                       
                                                      
K O Romney                14,072                      
                                                      
P W Mason                 2,500                       
                                                      
M J Gordon                None                        
                                                      
T Marris                  52,708                      
                                                      
F Hughes                  4,694                       

These shareholdings may differ from those announced in section 6.1 of the
listing particulars, as a result of the purchase, sale or exercise of options
of Countrywide Assured Group shares between the publication of the listing
particulars and the demerger date on the 25th May 2004.