Director Shareholding

Vane Holdings PLC
05 July 2004


                               Vane Holdings plc

                             Directors Shareholding

The Company was informed on 2 July 2004 that David Ingmire, Non executive
Director, purchased 25,000 shares in the Company at 8.75 pence per share on 2
July 2004. Mr Ingmire is interested in a total of 25,000 shares which represents
0.02% of the Company's issued share capital.



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