Director Shareholding

Gresham Computing PLC
28 June 2004


For immediate release 28 June 2004


              Director Shareholding and Major Interests in Shares
                                        
                              Gresham Computing plc
                          ('Gresham' or 'the Company')

                              Director Shareholding

The Company announces that Mr SJ Green and Mr D Osman today settled an option
held by Mr Osman over 100,000 ordinary shares of 5 pence each beneficially held
by Mr Green, a former director, at an exercise price of 55 pence per share,
which were due to expire on 17 July 2004.

The terms of the agreement were that Mr Green retained 16,000 of these shares
and Mr Osman received the balance of 84,000 shares, representing 0.17% of the
outstanding share capital of the Company. Mr Osman subsequently sold 33,600 of
these, representing 0.07% of the outstanding share capital of the Company, at a
price of £3.28 per share to satisfy the tax liability arising on the receipt of
the shares. Mr Osman retained the balance of 50,400 shares.

As a result, Mr Osman has increased his beneficial interest in the ordinary
shares of the Company to 56,342, representing 0.11% of the outstanding share
capital.

The total number of outstanding ordinary shares of the Company remains unchanged
at 49,402,367 ordinary shares of 5p each.

Major Interests in Shares

The Company was notified on 28 June 2004 that, as at 24 June 2004, and as a
result of the ownership interests set out below, The Northwestern Mutual Life
Insurance Company is interested in 1,954,455 ordinary shares of 5 pence each
representing 3.96% of the outstanding share capital of the Company. The holdings
are registered as follows:

The Northwestern Mutual Life Insurance Company - General Account       1,498,320
The Northwestern Mutual Life Insurance Company - GASA Account            302,985
Northwestern Mutual Series Fund, Inc. - Asset Allocation Portfolio        26,575
Northwestern Mutual Series Fund, Inc. - International Growth Portfolio    83,850
Mason Street Funds, Inc. - Asset Allocation Fund                          30,370
Northwestern Mutual Life Foundation, Inc.                                 12,355

                                     -ends-

For further information please contact:

Gresham Computing plc                                           01489 555500
Chris Errington, Finance Director

Weber Shandwick Square Mile                                    020 7067 0700
Christian Taylor-Wilkinson




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