Director Shareholding

Lowland Investment Co PLC
19 December 2002

                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1. Name of company
LOWLAND INVESTMENT COMPANY

2. Name of director
MR PETER TROUGHTON

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 a non-beneficial
interest
AS IN 2 ABOVE

4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them (if notified)
HENDERSON NOMINEES LIMTED A/C PEPs/ISAs

5. Please state whether notification relates to a person(s) connected with the
director named in 2 above and identify the connected person(s)
AS IN 2 ABOVE

6. Please state the nature of the transaction. For PEP transactions please
indicate whether general/single co PEP and if discretionary/non discretionary
REINVESTMENT OF PEPs AND ISA DIVIDEND

7. Number of shares / amount of stock acquired
78 SHARES

8. Percentage of issued class
INSIGNIFICANT

9. Number of shares/amount of stock disposed
-

10. Percentage of issued class
-

11. Class of security
ORDINARY SHARES

12. Price per share
427P

13. Date of transaction
19 DECEMBER 2002

14. Date company informed
19 DECEMBER 2002

15. Total holding following this notification
3,746

16. Total percentage holding of issued class following this notification
INSIGNIFICANT

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
KRISTA BURWOOD, HENDERSON SECRETARIAL SERVICES LIMITED 020 7818 2966

25. Name and signature of authorised company official responsible for making
this notification
KRISTA BURWOOD, FOR AND ON BEHALF OF HENDERSON SECRETARIAL SERVICES LIMITED

Date of Notification
19 DECEMBER 2002


                      This information is provided by RNS
            The company news service from the London Stock Exchange