Director Shareholding

SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS
1. Name of company
 Gresham House plc
2. Name of director
 Thomas Jeremy Rowe
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
 Spouse of above-named
4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them (if notified)
 Mrs M Rowe
5. Please state whether notification relates to a person(s) connected with the
director named in 2 above and identify the connected person(s)
 Spouse
6. Please state the nature of the transaction. For PEP transactions please
indicate whether general/single co PEP and if discretionary/non discretionary
 Sale
7. Number of shares / amount of stock sold
 200
8. Percentage of issued class
 0.004
9. Class of security
 Ordinary 25p
10. Price per share
 321.1p
11. Date of transaction
 23rd May, 2005
12. Date company informed
 23rd May, 2005
13. Total holding following this notification
 36,000
14. Total percentage holding of issued class following this notification
 0.74
15. Name of contact and telephone number for queries
B J Hallett 020 7588 7352
16 Name and signature of authorised company official responsible for making this
notification
B J Hallett - Director & Company Secretary
Date of Notification
23rd May, 2005