Director Shareholding

Paragon Group Of Companies PLC
2 December 2004

                                                                 2 December 2004

                              DIRECTOR SHAREHOLDING


On 2 December 2004 The Paragon Group of Companies PLC granted the following 
awards under the Paragon Performance Share Plan ('PPSP'):


Director        Award granted             Exercise period       Total awards now held

N S Terrington      54,897              02/12/07 - 02/06/08             312,670

N Keen              41,173              02/12/07 - 02/06/08             231,071

J A Heron           22,102              02/12/07 - 02/06/08             118,427

P Pandya            22,102              02/12/07 - 02/06/08             120,620


Under the terms of the PPSP these awards will become exercisable provided the 
Company's total shareholder return over the three year period commencing 1 
October 2004 is at or above the median TSR for a comparator group of companies 
making up the FTSE All Share Banks and Speciality and Other Finance Sector. The 
extent to which the shares can be exercised will be dependent upon where the 
company is ranked, with 25% being exercisable for median performance, rising to 
100% for performance on or above the upper quartile.


Enquiries:

John G Gemmell, Company Secretary 
0121 712 2075




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