Director Shareholding

Derwent Valley Holdings PLC
16 April 2002


                                                    SCHEDULE 11

                            NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1)      Name of company:
         Derwent Valley Holdings PLC

2)      Name of director:
         Nigel Q. George

3)      Please state whether notification indicates that it is in respect of 
        holding of the shareholder named in 2 above or in respect of a 
        non-beneficial interest or in the case of an individual holder if it is 
        a holding of that person's spouse or children under the age of 18 or in 
        respect of a non-beneficial interest:


4)      Name of the registered holder(s) and, if more than one holder, the 
        number of shares held by each of them (if notified):


5)      Please state whether notification relates to a person(s) connected with 
        the Director named in 2 above and identify the connected person(s):


6)      Please state the nature of the transaction. For PEP transactions please 
        indicate whether general/single co PEP and if discretionary/non 
        discretionary:


7)      Number of shares/amount of stock acquired:


8)      Percentage of issued class:


9)      Number of shares/amount of stock disposed:


10)     Percentage of issued class:


11)     Class of security:


12)     Price per share:


13)     Date of transaction:


14)     Date company informed:


15)     Total holding following this notification:


16)     Total percentage holding of issued class following this notification


        If a director has been granted options by the company please complete 
        the following boxes

17)     Date of grant:
         April 15, 2002

18)     Period during which or date on which exercisable:
         April 15, 2005 to April 14, 2012

19)     Total amount paid (if any) for grant of the option:
         Nil

20)     Description of shares or debentures involved: class, number:
         5p Ordinary shares

21)     Exercise price (if fixed at time of grant) or indication that price is 
        to be fixed at time of exercise:
        672.5p

22)     Total number of shares or debentures over which options held following 
        this notification:
         82,951 shares

23)     Any additional information:


24)     Name of contact and telephone number for queries:
         Mr T J Kite - 020 7659 3000

 25)     Name and signature of authorised company official responsible for 
         making this notification:
         Mr T J Kite

        Date of Notification:               April 16th 2002
                                               


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