Director Shareholding

Titon Holdings PLC
4 February 2002


                       Titon Holdings Plc ('the Company')

                             Grant of Share Options


The Company announces that on 18 January 2002 it granted options under the Titon
Executive Share Option Scheme to the following Directors:


                      Granted       No. of options        New Total             Exercise Dates
                   on 18 January    previously held                          From             To

D A Ruffell           25,000            31,000             56,000          18/01/05        18/01/12
R Brighton            10,000            31,000             41,000          18/01/05        18/01/12
C S Jarvis            10,000            27,000             37,000          18/01/05        18/01/12
N Howlett             10,000            20,000             30,000          18/01/05        18/01/12


and the following options under the Titon Company Share Option Scheme:


C J Martin             10,000           8,600            18,600          18/01/05          18/01/12


4 February 2002


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