Director Shareholding

EP GLOBAL OPPORTUNITIES TRUST plc

The Company's Listing Particulars dated 24 November 2003 stated that the
Directors of the Company intended to apply for the following number of Ordinary
Shares under the Offer or the Placing of the Company's Ordinary Shares:

Director             Number of                  
                                                
                     Ordinary Shares            
                                                
Mr Teddy Tulloch     50,000                     
                                                
Mr Richard Burns     200,000                    
                                                
Mr David Hough       12,000                     
                                                
Ian McBean           50,000                     

The Company announces that pursuant to allotment of the Company's shares on 15
December 2003, the Directors became beneficially interested in the following
number of Ordinary Shares, representing the stated percentages of the Company's
issued share capital:

Director           Number of            % immediately       % as at 20      
                                                                            
                   Ordinary Shares      following admission April 2004      
                                                                            
Mr Teddy Tulloch   50,000               0.23                0.22            
                                                                            
Mr Richard Burns   202,000              0.94                0.90            
                                                                            
Mr David Hough     12,000               0.06                0.05            
                                                                            
Ian McBean         50,000               0.23                0.22