Director Shareholding

Headlam Group PLC
07 April 2004

For immediate release

Headlam Group plc - Exercise of share options

Headlam Group plc ('Headlam') announces that on 6 April 2004 Tony Brewer, Chief
Executive, and Steve Wilson, Finance Director, exercised share options over a
total of 214,000 shares granted under the Headlam Group 1996 Unapproved
Executive Share Option Scheme, the dates of grant and option prices of which are
detailed below.


Name                Date of grant      Number of    Option price per        Normal exercise period
                                       shares       share

Tony Brewer         15 May 1997        112,000      311.50 pence            May 2000 to May 2004

Steve Wilson        15 May 1997        102,000      311.50 pence            May 2000 to May 2004

Total                                  214,000


Immediately following the issue Tony Brewer and Steve Wilson sold 112,000 and
102,000 shares respectively at a price of £3.88 per share leaving their
beneficial shareholdings in Headlam unchanged, respectively at 443,874
representing 0.52% and 211,433 representing 0.25% of the issued share capital.


End

Released 7 April 2004



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