Director/PDMR Shareholding

Merchants Trust PLC
20 February 2006

                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1) Name of company

The Merchants Trust PLC

2) Name of director

R A Barfield

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

Director 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)

Puddledock Nominees

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

-

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

Shares acquired through Allianz Global Investors Investment Trust ISA

7) Number of shares/amount of stock acquired:

19


8) Percentage of issued class

0%

9) Number of shares/amount of stock disposed

-

10) Percentage of issued class

-

11) Class of security

Ordinary 25p shares

12) Price per share

456.25

13) Date of transaction

17 February 2006

14) Date company informed

20 February 2006

15) Total holding following this notification

2278


16) Total percentage holding of issued class following this notification

0.002% (ordinary)

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


Sarah Woodcock 020 7065 1542


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

Kirsten Salt


Date of Notification 20 February 2006


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