Director Shareholding

Highcroft Investments PLC
4 October 2001

                         Highcroft Investments P.L.C.
                           - Director's Dealings -


Highcroft Investments P.L.C. (the 'Company') has been informed that Mrs M
Kingerlee, the wife of Mr GJ Kingerlee, an executive director, has today sold
5,000 ordinary shares at 405p.


Following this, Mr Kingerlee and his associates hold 177,150 ordinary shares,
representing approximately 3.43 per cent. of the Company's issued ordinary
share capital.



4 October 2001