Director Shareholding

Marshalls PLC
21 October 2004


21 October 2004

Marshalls plc announces that it was informed yesterday that:-

(i) Michael Davies, Non-Executive Chairman, has purchased 10,000 ordinary shares
in the Company at 282.5p per share;

(ii) David Graham Holden has exercised an option over 80,000 ordinary shares of
which 69,649 have been sold on 20 October 2004 at a price of 282.5p per ordinary
share to finance the exercise of those options and settle the taxation liability
and costs. The exercise of this option was in accordance with the normal rules
of the Option Scheme. The net effect of this transaction is that his interest in
the ordinary shares of the Company has increased by 10,351 shares; and

(iii) Ian David Burrell has exercised an option over 55,000 ordinary shares of
which 47,884 have been sold on 20 October 2004 at a price of 282.5p per ordinary
share to finance the exercise of those options and settle the taxation liability
and costs. The exercise of this option was in accordance with the normal rules
of the Option Scheme. The net effect of this transaction is that his interest in
the ordinary shares of the Company has increased by 7,116 shares.

Following the above transactions, the interests in the shares of the Company for
Michael Davies, David Graham Holden and Ian David Burrell are 10,000 ordinary
shares, 169,942 ordinary shares and 10,500 ordinary shares respectively.


Enquiries:

Ian Burrell, Company Secretary, Marshalls plc
Tel: [phone]





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