Director Shareholding

Crest Nicholson PLC
1 February 2001


              Crest Nicholson plc ('the Company')
                               
Crest Nicholson plc has been advised on 31 January 2001 that
the following directors have been given awards of ordinary
shares in the Company on 31 January 2001 under The Crest
Nicholson Deferred Share Bonus Plan:


Director      No. of ordinary shares
J Callcutt             1,353
J C Littler              773
P R Murray            56,845
S Stone               61,855

Normal vesting date is 31 January 2004