Director Shareholding

Law Debenture Corp PLC
30 May 2001


                    THE LAW DEBENTURE CORPORATION P.L.C.

                   STATEMENT TO THE MARKET - 30 MAY 2001

The Law Debenture Corporation p.l.c. wishes to make a post-event announcement
about two dealings by directors in shares of the company.  In both instances,
the dealings were properly notified by the respective directors to the company,
which then omitted to notify the market in the usual way.  The omissions came to
light in the course of a recent routine internal review of the company's
announcements, and procedures have been tightened to ensure no recurrence.

Details of the dealings are set out in the forms below.

Ian Bowden
For Law Debenture Corporate Services Limited, Secretary

Contact 020 7696 5285



                       DEALINGS BY DIRECTORS

1)  NAME OF COMPANY

    THE LAW DEBENTURE CORPORATION P.L.C.

2)  NAME OF DIRECTOR

    JOHN EDWARDS

3)  Please state whether notification indicates that it is in respect of
    holding of the shareholder named in 2 above or in respect of a
    non-beneficial interest or in the case of an individual holder
    if it is a holding of that person's spouse or children under the
    age of 18 or in respect of an non-beneficial interest

    SHAREHOLDER NAMED IN 2

4)  Name of the registered holder(s) and, if more than one holder, the
    number of shares held by each of them. (If notified)

    JOHN EDWARDS

5)  Please state whether notification relates to a person(s) connected
    with the Director named in 2 above and identify the connected person(s)

    N/A

6)  Please state the nature of the transaction. For PEP transactions
    please indicate whether general/single co PEP and if discretionary/non
    discretionary

    PURCHASE OF ORDINARY SHARES IN SELF CERTIFICATED FORM 

7)  Number of shares/amount of
    stock acquired

    2,500

8)   ( 0.0107% )
    of issued Class


9)  Number of shares/amount
    of stock disposed

   
10)  (    %)
    of issued Class


11) Class of security

    ORDINARY

12) Price per share

    £11.40

13) Date of transaction

    10 OCTOBER 2000

14) Date company informed

    10 OCTOBER 2000

15) Total holding following this notification

    2,500

16) Total percentage holding of issued class following this notification

    0.0107

     IF A DIRECTOR HAS BEEN GRANTED OPTIONS BY THE COMPANY PLEASE
                    COMPLETE THE FOLLOWING BOXES

17) Date of grant



18) Period during which or date on which exercisable



19) Total amount paid (if any) for grant of the option



20) Description of shares or debentures involved: class, number.



21) Exercise price (if fixed at time of grant) or indication that price
    is to be fixed at time of exercise



22) Total number of shares or debentures over which options held
    following this notification

   

23) Any additional information



24) Name of contact and telephone number for queries



25) Name and signature of authorised company official responsible for
    making this notification

    IAN BOWDEN

    Date of Notification  29 MAY 2001



                       DEALINGS BY DIRECTORS

1)  NAME OF COMPANY

    THE LAW DEBENTURE CORPORATION P.L.C.

2)  NAME OF DIRECTOR

    ARMEL CATES

3)  Please state whether notification indicates that it is in respect of
    holding of the shareholder named in 2 above or in respect of a
    non-beneficial interest or in the case of an individual holder
    if it is a holding of that person's spouse or children under the
    age of 18 or in respect of an non-beneficial interest

    SHAREHOLDER NAMED IN 2.

4)  Name of the registered holder(s) and, if more than one holder, the
    number of shares held by each of them. (If notified)

    ARMEL CATES

5)  Please state whether notification relates to a person(s) connected
    with the Director named in 2 above and identify the connected person(s)

    N/A

6)  Please state the nature of the transaction. For PEP transactions
    please indicate whether general/single co PEP and if discretionary/non
    discretionary

    DISCRETIONARY ISA

7)  Number of shares/amount of
    stock acquired

    600

8)   ( 0.0026% )
    of issued Class


9)  Number of shares/amount
    of stock disposed

   
10)  (    %)
    of issued Class


11) Class of security

    ORDINARY

12) Price per share

    £11.64

13) Date of transaction

    9 APRIL 2001

14) Date company informed

    9 APRIL 2001

15) Total holding following this notification

    600

16) Total percentage holding of issued class following this notification

    0.0026

     IF A DIRECTOR HAS BEEN GRANTED OPTIONS BY THE COMPANY PLEASE
                    COMPLETE THE FOLLOWING BOXES

17) Date of grant



18) Period during which or date on which exercisable



19) Total amount paid (if any) for grant of the option



20) Description of shares or debentures involved: class, number.



21) Exercise price (if fixed at time of grant) or indication that price
    is to be fixed at time of exercise



22) Total number of shares or debentures over which options held
    following this notification

   

23) Any additional information



24) Name of contact and telephone number for queries



25) Name and signature of authorised company official responsible for
    making this notification

    IAN BOWDEN

    Date of Notification  29 MAY 2001