Director/PDMR Shareholding

Centaur Media plc (the "Company")

PDMR SHAREHOLDINGS

16 December 2010

Conversion of existing vested ordinary share options to nil-cost options

The Company announces that, as part of a review of all employee equity
incentives, on 15 September 2010 the Remuneration Committee and Board of
Directors adopted the rules of the "The Centaur Media Plc 2010 Retention Plan"
(the "Plan"). Executive Directors are not eligible to participate in this Plan.

The  main  impact  of  the  adoption  of  the Plan is the cancellation, with the
agreement  of option  holders, of  the outstanding  vested (having satisfied the
performance   conditions)   market-priced   options  granted  on  09/03/2004 and
29/09/2004 under  the Centaur Media Plc Share  Option Plan and their replacement
with  a  lower  number  of  forfeitable nil-priced options ("Retention Awards"),
granted  on the  basis of  1 Retention forfeitable  nil-cost option for every 3
existing vested options surrendered.

The  Retention  Awards  set  out  in  the  table  below  vest  50% on the second
anniversary  of the date of  grant and the balance  on the third anniversary and
will therefore support the retention of key employees of the Company.

The following table sets out the details of the outstanding vested options that
have been cancelled and the number of Retention Awards granted on 15 December
2010 to replace them:-

+---------------------+----------------+-------------------+-------------------+
|  Date of Grant of   |  Name of PDMR  | Number of Vested  |Number of Nil-Cost |
|   Vested Options    |                | Options cancelled |Options subject to |
|                     |                |                   |the Retention Award|
|                     |                |                   |      granted      |
+---------------------+----------------+-------------------+-------------------+
|09/03/2004           |Timothy J Potter|            340,524|            113,508|
+---------------------+----------------+-------------------+-------------------+
|09/03/2004           |Calum BD Taylor |            329,207|            109,736|
+---------------------+----------------+-------------------+-------------------+
|09/03/2004           |Ian PH Roberts  |            244,420|             81,474|
+---------------------+----------------+-------------------+-------------------+
|29/9/2004            |P Ponsford      |            100,000|             33,334|
+---------------------+----------------+-------------------+-------------------+
|29/9/2004            |J Mann-Selley   |            100,000|             33,334|
+---------------------+----------------+-------------------+-------------------+
|29/9/2004            |N Noble         |            100,000|             33,334|
+---------------------+----------------+-------------------+-------------------+
|29/9/2004            |P Harris        |            100,000|             33,334|
+---------------------+----------------+-------------------+-------------------+
|29/9/2004            |D Rogers        |            100,000|             33,334|
+---------------------+----------------+-------------------+-------------------+

This exchange will reduce the level of potential dilution to existing
shareholders. The price of the ordinary shares in the Company on the date of the
grant of the Retention Awards was 70 pence.

Following the grant of the options, the PDMR's holdings in the Company are as
follows:

+----------------+------+----------------+-----------------+------------+
|  Name of PDMR  |Shares|Rollover options|Retention options|SAYE options|
+----------------+------+----------------+-----------------+------------+
|Timothy J Potter|   NIL|             NIL|          113,508|      43,738|
+----------------+------+----------------+-----------------+------------+
|Calum BD Taylor |   NIL|          76,672|          109,736|      74,808|
+----------------+------+----------------+-----------------+------------+
|Ian PH Roberts  |   NIL|             NIL|           81,474|      43,738|
+----------------+------+----------------+-----------------+------------+
|P Ponsford      |11,144|             NIL|           33,334|      26,242|
+----------------+------+----------------+-----------------+------------+
|J Mann-Selley   |   NIL|             NIL|           33,334|      59,847|
+----------------+------+----------------+-----------------+------------+
|N Noble         |   NIL|             NIL|           33,334|      17,495|
+----------------+------+----------------+-----------------+------------+
|P Harris        |   NIL|             NIL|           33,334|      40,000|
+----------------+------+----------------+-----------------+------------+
|D Rogers        |   NIL|             NIL|           33,334|      37,895|
+----------------+------+----------------+-----------------+------------+


This  announcement is made  in accordance with  DTR 3.1.4 R(1)(a) and DTR 3.1.4
R(1)(b).

16 December 2010

Name of contact and authorised company official responsible for making this
notification:
Claire Baty
Group Financial Controller and Company Secretary
020 7970 4481







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Source: Centaur Media Plc via Thomson Reuters ONE

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