Directors' Dealings

LAW DEBENTURE CORPORATION PLC


                            DEALINGS BY DIRECTORS

1)   NAME OF COMPANY

     THE LAW DEBENTURE CORPORATION PLC

2)   NAME OF DIRECTOR

     DOUGLAS C.P. MCDOUGALL

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

     DIRECTOR

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

     D C P MCDOUGALL

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

     NO

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

     MARKET PURCHASE

7)   Number of shares/amount of
     stock acquired

     10,000

8)   (0.0431%)
    of issued Class

9)   Number of shares/amount
     of stock disposed

     N/A

10)  ( N/A %)
    of issued Class

11)  Class of security

     ORDINARY 25p

12)  Price per share

     £11.63

13)  Date of transaction

     25/8/99

14)  Date company informed

     26/8/99

15)  Total holding following this notification

     20,000

16)  Total percentage holding of issued class following 
     this notification      

     0.0862

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

17)  Date of grant

N/A

18)  Period during which or date on which exercisable

N/A

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

N/A

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

N/A

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

N/A

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

N/A

23)  Any additional information

N/A

24)  Name of contact and telephone number for queries

     A F HALL      696 5268

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

     Date of Notification.....27/8/1999..................