Director Shareholding

Falkland Islands Holdings PLC
30 July 2001





Falkland Islands Holdings plc ('the Company') 
Falkland Islands Holdings plc, Executive Share Option Scheme ('the Scheme')

The following Directors of the Company were granted options under the Scheme on
27th July 2001 at an exercise price of 139.5p per share.  No consideration was
paid for the options, which are subjected to meeting a specific performance
target (EPS growth to exceed inflation by at least 6% in any 3 year period.)
 
Director                 Number of Shares Under option     Exercise period

John Henry Gainham                 10,000                 27.7.2004-26.7.2011 
Bryan McGreal                       3,500                 27.7.2004-26.7.2011 
George Roger Wallace               25,000                 27.7.2004-26.7.2011