Director Shareholding

Piccadilly Growth Trust Plc
21 January 2002



                          PICCADILLY GROWTH TRUST PLC



The Company has today been informed that Mr Andrew Greenwell, a Director of the
Company, has today purchased 5,000 Ordinary 1p shares in the Company at a price
of 79p each, as a bare trustee on behalf of his minor children.



Following this purchase Mr Greenwell is now deemed to have an interest in a
total of 214,640 Ordinary 1p shares in the Company, representing 2.00% of the
issued share capital.



21 January 2002



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