Director Shareholding

GUS PLC
23 June 2003





                                      GUS plc 
                                   (THE COMPANY')
                         DIRECTORS' INTERESTS IN CONNECTION WITH
                              THE GUS PLC CO-INVESTMENT PLAN


In accordance with the terms of The GUS pic Co-Investment Plan, the following
directors of the Company have opted to defer receipt of their bonus for the year
ended 31 March 2003 and to invest it in Ordinary shares of 25p in the Company.
The resulting increases in their interests in GUS shares and in their contingent
interests in matching shares awarded in connection with this plan are as
follows:


Name of director     Number of Ordinary            Contingent interests in 
                          shares                       matching shares

                   Now acquired on   Held after     Now arising       Held after
                     behalf of          this       in respect of   this matching
                      director       acquisition     director          award

    
John Peace            57,778           154,148        195,858           383,758
                    
Terry Duddy           46,666           107,383        158,193           302,249
                    
Craig Smith           42,001            42,001         65,100            65,100
                    
David Tyler           33,778           153,466        114,501           224,109


The purchase of the shares acquired on behalf of the directors was made on 20
June 2003 at a price of 663.7453p per share; the award of the matching shares
was made on 20 June 2003 by reference to a price of 663.7453p per share. The
release of these shares is deferred for three years and if the director resigns
during the three-year period he will forfeit the right to the matching shares.


Following this notification, there are contingent awards held by directors under
the terms of The GUS plc Co-Investment Plan in respect of 975,216 Ordinary
shares of 25p in the Company.



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