Director Shareholding

Toad PLC
9 January 2002

9 January 2002


Toad plc (the 'Company')

On 9 January 2002, the Company was informed that, on that date, Mr Stephen
Wheatley and Mr Peter Ward, both directors of the Company, each purchased
83,333 ordinary 10p shares in the Company ('Ordinary Shares') at a price of 12
pence per share.


Following these purchases, Mr Wheatley holds 88,333 Ordinary Shares and Mr
Ward holds 83,333 Ordinary Shares representing 0.12 per cent and 0.11 per cent
respectively of the issued share capital of the Company.