Director Shareholding

Rathbone Brothers PLC
12 May 2004


Rathbone Brothers Plc
Directors' Shareholdings - Share Incentive Plan (SIP)

On 11 May 2004, ordinary shares of 5p were allotted at £7.025, being the closing
mid-market price on 10 May 2004 to Hill Samuel ESOP Trustees Limited who are the 
Trustees of The Rathbone Inland Revenue Approved Share Incentive Plan. 
The registered holder is Lloyds TSB Registrars Corporate Nominee Limited. 
A/c AESOP1.

The following directors are beneficial owners of the following shares (subject
to the terms and conditions of the Plan Trust Deed and Rules).

--------------------------------------------------------------------------------  
                            Total holding following    Total % holding following
                                  notification                notification
--------------------------------------------------------------------------------  
Director        Allotted   Beneficial  Non beneficial  Beneficial Non beneficial 
--------------------------------------------------------------------------------  

R A Morris           214      294,901          14,250      0.724%         0.035%
--------------------------------------------------------------------------------  
G M Powell           214      299,643          10,000      0.736%         0.025%
--------------------------------------------------------------------------------  
A D Pomfret          298       19,929               -      0.049%             -
--------------------------------------------------------------------------------  
R P Lanyon           214      218,798               -      0.537%             -
--------------------------------------------------------------------------------  
The Viscount Lifford 214       89,291          20,000      0.219%         0.049%
--------------------------------------------------------------------------------  
A T Morris           214       13,807               -      0.034%             -
--------------------------------------------------------------------------------  
R I Smeeton          214      133,864               -      0.329%             -
--------------------------------------------------------------------------------  
J G S Coode-Adams    214        7,862               -      0.019%             -
--------------------------------------------------------------------------------  
P D G Chavasse       214        5,904               -      0.014%             -
--------------------------------------------------------------------------------  
C M Burton           212          233               -      0.001%             -
--------------------------------------------------------------------------------  
J C Barclay          212          233               -      0.001%             -
--------------------------------------------------------------------------------  

Shares were also allotted to Hill Samuel Offshore Trust Company Limited who are
the Trustees of The Rathbone International Share Incentive Plan. The registered
holder is Bank of New York (Nominees) Limited.

The following director is the beneficial owner of the following shares (subject
to the terms and conditions of the Plan Trust Deed and Rules).
--------------------------------------------------------------------------------  

                            Total holding following    Total % holding following
                                  notification                notification
--------------------------------------------------------------------------------  
Director        Allotted   Beneficial  Non beneficial  Beneficial Non beneficial 
--------------------------------------------------------------------------------  

M P Egerton-Vernon   214       91,218               -      0.224%             -
--------------------------------------------------------------------------------  

Richard Loader
Company Secretary
12 May 2004
Telephone no. 020 7399 0162


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