Director Shareholding-Replace

Paragon Group Of Companies PLC
22 June 2005


The following amendment has been made to the 'Director Shareholding'
announcement released today at 16.45 under RNS No 9170N.

The price paid for exercise of options was not included. 

All other details remain unchanged.

The full amended text is shown below.




                                  SCHEDULE 11
                                 
          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS
          

1. Name of company

THE PARAGON GROUP OF COMPANIES PLC


2. Name of director

NICHOLAS KEEN


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 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)

NICHOLAS KEEN


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 SHARE OPTIONS AND SALE OF SHARES


7. Number of shares / amount of stock acquired

490,000


8. Percentage of issued class

0.4%


9. Number of shares/amount of stock disposed

490,000


10. Percentage of issued class

0.4%


11. Class of security

ORDINARY SHARES OF 10P


12. Price per share

SEE BELOW


13. Date of transaction

22 JUNE 2005


14. Date company informed

22 JUNE 2005


15. Total holding following this notification

44,116


16. Total percentage holding of issued class following this notification

0.036%


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

MR JOHN G. GEMMELL
0121 712 2075


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

Date of Notification

22 JUNE 2005



Nicholas Keen

Option exercise 22.6.05

Purchases:
240,000 shares @ £2.18 per share
250,000 shares @ £2.48 per share
-------
490,000
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Sold at £4.36 per share


                      This information is provided by RNS
            The company news service from the London Stock Exchange