Director Shareholding

Director Shareholding 

    LONDON--(BUSINESS WIRE)--April 24, 2003--

We have been advised by the Trustees of the Slough Estates plc 1994
Employee Benefit Trust (the 'Trust') that 130,031 shares were released
to participants under the terms of the Company's Long Term Incentive
Plan. The Trustees sold on 23 April 2003 a total of 57,993 ordinary
shares, at a price of 303p per ordinary share to meet the tax
liabilities of the participants. Details of the number of ordinary
shares released to each director are set out below:

      Name                       No. of Shares           No. of Shares           Net
                                    Released                   Sold

      Sir Nigel Mobbs                   18,597                    0           18,597
      J A N Heawood                     12,646                5,060             7,586
      R D Kingston                      13,390                5,358             8,032
      M D Lees                          15,709                6,286             9,423

Each director's total shareholding is now:

      Name                       No. of Shares

      Sir Nigel Mobbs                  572,701
      J A N Heawood                     31,880
      R D Kingston                      45,075
      M D Lees                          51,411

The holding of the Trustees in ordinary shares following the release
of ordinary shares is 923,158 in which the following directors are all
interested in as potential beneficiaries under the terms of the Trust.


      Name

      Sir Nigel Mobbs            up to a maximum of    94,175
      J A N Heawood              up to a maximum of    72,597
      R D Kingston               up to a maximum of    76,692
      M D Lees                   up to a maximum of    89,017



   Short Name: Slough Estates PLC
   Category Code: RDS
   Sequence Number: 00004249
   Time of Receipt (offset from UTC): 20030424T160239+0100