Director Shareholding

R.E.A.Hldgs PLC
07 September 2004


R.E.A. Holdings plc (the 'company')

The company announces that it has today received notification from Mr R M
Robinow, the chairman of the company, that as a result of a reorganisation of
Robinow family interests in the company:
     
-    all of the 109,719 ordinary shares of the company in which Mr R M Robinow 
     and his wife were formerly beneficially interested were today sold to 
     Mr H M Robinow (Mr R M Robinow's father) at a price of 262.5p per share

-    12,748 of the warrants of the company in which Mr R M Robinow and his wife
     were formerly beneficially interested were today sold to Mr H M Robinow at 
     a price of 192.5p per warrant

-    40,000 9 per cent cumulative preference shares of the company were today
     acquired from Mr H M Robinow by a fund of which the holdings form part of 
     Mr R M Robinow's beneficial interests at a price of 103.5p per share

As a result, Mr R M Robinow has ceased to have any interest in the ordinary
shares of the company. Mr Robinow (together with his wife) is now interested in
116,900 warrants, 113,329 9 per cent cumulative preference shares and £10,000
nominal of 4 per cent convertible loan stock of the company (all such interests
being beneficial interests).


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