Director Shareholding

National Express Group PLC
15 March 2004

The Company has been informed that on 12 March, the Trustee of the National
Express Group Qualifying Employee Share Trust transferred 194 ordinary shares at
£4.17 to satisfy the exercise of options under the National Express Group 2002
Savings Related Share Scheme.  Following this transfer, the National Express
Group Qualifying Employee Share Trust holds a total interest in the Company of
80,829 shares.  As all employees of the Company and its subsidiaries are
potential beneficiaries under the Trust on an equal basis, the executive
directors of the Company, Messrs P M White, R O'Toole and A C Walker, in their
capacity as members of the class of potential beneficiaries under the Trust, are
deemed to have an interest in these shares pursuant to the Companies Act 1985.






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