Director Shareholding

FirstGroup plc - Notification of Directors' Interests in Shares        

With effect from June 2002, each Non-Executive Director of the Company (other
than Martyn Williams, the Non-Executive Employee Director) has elected to have
40% of his fees in the form of shares in the Company. Arrangements have been
made for these shares to be purchased on their behalf in the market on a
regular basis.

Purchases took place on 23 January 2004 in accordance with standing
instructions as follows:-

Director                               Ordinary Shares of 5 pence each
                                                                      
Martin Gilbert                                                   1,248
                                                                      
David Dunn                                                         401
                                                                      
Jim Forbes                                                         401
                                                                      
John Sievwright                                                    401

Shares were purchased at a price of 264.5 pence per share.

The revised total beneficial holdings of the directors following these
transactions are:-

Director                               Ordinary Shares of 5 pence each
                                                                      
Martin Gilbert                                                  45,726
                                                                      
David Dunn                                                      16,510
                                                                      
Jim Forbes                                                       8,510
                                                                      
John Sievwright                                                 16,010

23 January 2004