Director Shareholding

Billam PLC
01 March 2004


                                   Billam Plc

                                Grant of Options

Billam Plc ('Billam' or 'The Company') today announced the issue of options to
directors on 1 March 2004 as shown below. The options, all of which are
unapproved under Inland Revenue rules, are exerciseable at any time up to 27
February 2010. The option price is the closing market price of 26 pence per
share on 27 February 2004 the day immediately preceding the date of grant.

The interests of the directors in the Ordinary share capital of the Company
following the grant of these options is now as follows:

Name              Holding of        Percentage of     Number of new shares
                Ordinary Shares     Ordinary Share       under option
                                       capital
V N Beamish             155,000                 1.0%             150,000
A G P Forrest         1,620,099                10.0%             500,000
J A Hoskins              52,300                 0.3%              70,000

In addition to the options granted above there are existing option agreements in
place all exerciseable at £1 at any time prior to 28 February 2008 as shown
below.
Victor Beamish 40,000, Angus Forrest 250,000, Juliet Hoskins 40,000

Enquiries

Billam Plc                     020 7336 1300
Angus Forrest

Bishopsgate Communications     020 7430 1600
Maxine Barnes / Dominic
Barretto




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