Director Shareholding

Greggs PLC
23 March 2005

On the 23 March 2005, Greggs plc (the "Company") was notified that:-



(a)        on the 22 March 2005 the following transactions occurred:



1)         Sir Michael Darrington, a director of the Company, purchased 18,000
ordinary shares of 20p each (0.15% of the issued share capital) at £26.875 per
share pursuant to an exercise of executive share options.



2)         Sir Michael Darrington also purchased 7,900 ordinary shares of 20p
each (0.065% of the issued share capital) at £17.015 per share pursuant to an
exercise of executive share options.



3)         Malcolm Simpson, a director of the Company, purchased 12,000 ordinary
shares of 20p each (0.099% of the issued share capital) at £26.875 per share
pursuant to an exercise of executive share options.



4)         Malcolm Simpson also purchased 2,400 ordinary shares of 20p each
(0.020% of the issued share capital) at £17.015 per share pursuant to an
exercise of executive share options.



5)         All of the above shares were supplied by the trustees of the Greggs
Employee Benefit Trust (including Ian Gregg, Sir Michael Darrington and Malcolm
Simpson)



6)         Sir Michael Darrington, then sold the 25,900 ordinary shares of 20p
each at £45.25 per share.



7)         Malcolm Simpson, then sold the 14,400 ordinary shares of 20p each at
£45.25 per share.



(b)        The trustees of the Greggs Employee Benefit Trust also sold 625
ordinary shares of 20p each (0.005% of the issued share capital) at £24.00 on
the 17 March 2005 to an employee on the exercise of options granted pursuant to
the Company's Executive Share Option Scheme.



The total beneficial and non-beneficial holdings of Sir Michael Darrington, Ian
Gregg  and Malcolm Simpson (excluding interests in share options) following this
notification are:-



                            Beneficial                 Non-beneficial

Sir Michael Darrington      70,650  (0.58%)            97,429  (0.802%)

Ian Gregg                   154,655 (1.27%)            97,429  (0.802%)

Malcolm Simpson             85,722  (0.706%)           126,030 (1.04%)



(Sir Michael Darrington and Malcolm Simpson each have a potential interest in
the 97,429 ordinary shares held in the Employee Benefit Trust, shown above as
part of their non-beneficial interests)


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