Grant of Share Incentives

Mavinwood PLC
17 October 2006


Mavinwood plc

Grant of Share Incentives to Directors

17 October 2006

The Board of Mavinwood plc announces that the following grants of share
incentives over the Company's ordinary shares of 0.1 pence each were made on 16
October 2006 to the undermentioned Directors.

The share incentives were awarded under the Mavinwood plc Long Term Incentive
Plan - ('LTIP').

Director      Scheme      No. of           Exercise        Total number of share 
                          Shares            Price             incentives held
                                                          following notification


Philip Reid    LTIP       253,125             0.1p                   3,000,000

Kevin Mahoney  LTIP     5,597,185             0.1p                  17,685,000

Mike Vincent   LTIP     4,767,972             0.1p                  15,065,000

John Minton    LTIP       500,000             0.1p                   1,500,000

Steve Watkins  LTIP       500,000             0.1p                   1,000,000


In each case there was no consideration for the LTIP award.

The exercise period in respect of grants under the LTIP scheme is from 16
October 2009 to 15 October 2016, subject to satisfaction of either of the
applicable performance criteria which relate to earnings per share growth and
Total Shareholder Return (TSR).

The first test is that the average annual compounded growth in EPS exceeds 16%
in the three 3 year periods ending 31 December 2008, 2009 and 2010.

This hurdle rate has been increased to 16% from 12% in the earlier grants under
the LTIP.

The second test is based on TSR (that is share price growth plus re-invested
dividends) measured over the periods commencing 16 October 2006 as shown in the
table below

Years following award          TSR
                 3             70%
                 4             85%
                 5            100%


TSR shall be measured using the average share price over 20 consecutive days
prior to the anniversary following award and comparing this with 16p. The
closing mid-market price on 16 October was 14.25p.




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