Directors' Notification of Dealing in Shares

Crest Nicholson PLC
22 June 2000


              Crest Nicholson PLC ('the Company')
                               

Crest Nicholson PLC announces that Mrs L Matthews, spouse of
the Chairman, Mr J W Matthews has today purchased 10,000
ordinary shares in the Company at 124.5p per share.

Following this transaction Mr Matthews now holds an interest
in 220,682 ordinary shares representing 0.21% of the Company's
issued ordinary share capital.