Director Shareholding

Paragon Group Of Companies PLC
11 July 2003


                       DEALINGS BY DIRECTORS


1)  NAME OF COMPANY

    THE PARAGON GROUP OF COMPANIES PLC

2)  NAME OF DIRECTOR

    JONATHAN P.L. PERRY

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 an non-beneficial interest

    DIRECTOR PERSONALLY
    
4)  Name of the registered holder(s) and, if more than one holder, the
    number of shares held by each of them. (If notified)

    AS ABOVE

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

    DIRECTOR PERSONALLY

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

    EXERCISE OF OPTIONS APPROACHING EXPIRY AND SALE OF SHARES

7)  Number of shares/amount of
    stock acquired

    260,700

8)  (%)
    of issued Class

    0.22%


9)  Number of shares/amount
    of stock disposed

    260,700


10) (%)
    of issued Class

    0.22%


11) Class of security

    ORDINARY SHARES OF 10P


12) Price per share

    SEE BELOW

13) Date of transaction

    11 JULY 2003

14) Date company informed

    11 JULY 2003

15) Total holding following this notification

    301,549

16) Total percentage holding of issued class following this notification

    0.25%


     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

    JOHN G. GEMMELL
    0121 712 2075

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

    Date of Notification    11 JULY 2003     


JONATHAN P L PERRY                        

Exercise of Options due to expire in 2003:

260,700 @ 1.0548


Sale of Shares:

260,700 @ £2.90



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