Director/PDMR Shareholding

Local Shopping REIT (The) PLC
03 May 2007


3 May 2007

The Local Shopping REIT plc ('the Company')

Notification of transactions of Directors and persons discharging managerial
responsibility ('PDMRs')

On 2 May 2007 the Company's Remuneration Committee granted awards of share
options under the Company's Share Option  Plan ('CSOP') over 52,706 of the
Company's ordinary shares of 20 pence nominal value.  Amongst the awards were
the  following in respect of PDMRs:

William Heaney options over 17,094 shares
Christopher Moulden options over 17,094 shares

All the options awarded have a vesting date of 2 May 2010.  No money was paid 
for the grant of the options.

Enquiries:

Bill Heaney
Company Secretary
020 7187 4444

END





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