Director Shareholding

Crest Nicholson PLC
4 April 2001


              Crest Nicholson PLC ('the Company')
                               
Crest Nicholson PLC has today been advised that Mr Bruce G
Walker, a director has sold 3,956 ordinary shares in the
Company on 3 April 2001 at 215p per share. Mrs Doreen Walker,
his wife, has sold 20,616 ordinary shares in the Company on 3
April 2001 at 215p per share.  Following these transactions Mr
Walker now holds a beneficial interest in 2,661 ordinary
shares in the Company.

Crest Nicholson PLC has also been advised that Mr Paul
Callcutt, a director has today sold 8,000 ordinary shares in
the Company at 214p per share and Mrs Patricia Callcutt, his
wife, has today purchased 8,000 ordinary shares in the Company
at 214p per share.  As a result of this transaction, Mr
Calcutt's holding remains unchanged at 18,625 ordinary shares.