Director Shareholding

Mountview Estates PLC
16 September 2004


MOUNTVIEW ESTATES PLC ('MOUNTIEW' OR 'THE COMPANY')

Director's and Substantial Shareholdings

Mountview has been notified that Mr. D.M. Sinclair (Chairman) yesterday sold
6,025 ordinary shares of 5p each in the Company ('shares') at a price of £39.50
per share and, at the same price, 6,025 shares were bought by The Frank & Daphne
Sinclair Grandchildren Settlement. The resulting revised holdings of Mountview
ordinary shares are as set out below:

D.M. Sinclair

Beneficial (including those of wife)

Previous:                                      458,636                  (11.76%)
Sold:                                            6,025
New:                                           452,611                  (11.61%)

Mr Sinclair's non-beneficial holding in the Company remains unchanged.

The Frank and Daphne Sinclair Grandchildren Settlement

Previous:                                      616,605                  (15.82%)
Bought:                                          6,025
New:                                           622,630                  (15.97%)


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