Director Shareholding

Volex Group PLC
31 July 2003

                       DEALINGS BY DIRECTORS


1)  NAME OF COMPANY
VOLEX GROUP P.L.C.


2)  NAME OF DIRECTOR
MR DON PAYZANT


3)  Please state whether notification indicates that it is in respect of
    holding of the shareholder named in 2 above or in respect of a
    non-beneficial interest or in the case of an individual holder
    if it is a holding of that person's spouse or children under the
    age of 18 or in respect of an non-beneficial interest
NAME OF SHAREHOLDER NAMED IN 2 ABOVE


4)  Name of the registered holder(s) and, if more than one holder, the
    number of shares held by each of them. (If notified)
MR DON PAYZANT


5)  Please state whether notification relates to a person(s) connected
    with the Director named in 2 above and identify the connected person(s)
NOT APPLICABLE


6)  Please state the nature of the transaction. For PEP transactions
    please indicate whether general/single co PEP and if discretionary/non
    discretionary
ACQUISITION


7)  Number of shares/amount of
    stock acquired
20,000


8)  (0.06%)
    of issued Class



9)  Number of shares/amount
    of stock disposed
NOT APPLICABLE


10) Percentage of issued Class
NOT APPLICABLE


11) Class of security
ORDINARY 25P SHARES


12) Price per share
0.87P


13) Date of transaction
31 JULY 2003


14) Date company informed
31 JULY 2003


15) Total holding following this notification
149,075


16) Total percentage holding of issued class following this notification
0.52%


     IF A DIRECTOR HAS BEEN GRANTED OPTIONS BY THE COMPANY PLEASE
                    COMPLETE THE FOLLOWING BOXES

17) Date of grant
NOT APPLICABLE


18) Period during which or date on which exercisable
NOT APPLICABLE


19) Total amount paid (if any) for grant of the option
NOT APPLICABLE


20) Description of shares or debentures involved: class, number.
NOT APPLICABLE


21) Exercise price (if fixed at time of grant) or indication that price
    is to be fixed at time of exercise
NOT APPLICABLE


22) Total number of shares or debentures over which options held
    following this notification
NOT APPLICABLE


23) Any additional information



24) Name of contact and telephone number for queries
MARK ASHCROFT
DIRECTOR & COMPANY SECRETARY
01925 830101


25) Name and signature of authorised company official responsible for
    making this notification

    Date of Notification               31 JULY 2003



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