Exercise of Options

Headlam Group PLC
22 December 2004


Exercise of Share Options

Headlam Group plc ('Headlam') announces that on 21 December 2004 Tony Brewer,
Chief Executive, exercised share options over 300,000 shares granted on 10
January 2001 under the Headlam Group 1998 Unapproved Executive Share Option
Scheme at an option price of £1.28 per share. These options are normally
exerciseable between 10 January 2004 and 10 January 2008.

Immediately following the issue Tony Brewer sold all 300,000 shares at a price
of £4.05 per share leaving his beneficial shareholding in Headlam unchanged at
443,874 shares representing 0.52% of the issued share capital.

End

Released 22 December 2004



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