Director Shareholding

Toad Group PLC
02 April 2004



                    Toad Group Plc ('Toad' or 'the Company')

                              Exercise of Options

The Company was informed on 1 April 2004 that Peter Ward, the Chairman of the
Company, exercised 250,000 options under 'The Peter Ward Option Scheme'. The
exercise price of the options was 10 pence. Following the exercise of these
options Peter Ward now holds 1,079,333 Ordinary Shares of the Company
representing 1.38% of the issued share capital of the Company. Peter Ward has
advised the Company that he has no current intention to dispose of these shares.




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