Director Shareholding

MFI Furniture Group PLC
28 February 2003

28 February 2003



                            MFI FURNITURE GROUP PLC

PART ONE - MFI FURNITURE GROUP PLC PERFORMANCE SHARE PLAN


We advise that on 27th February awards granted in May 2000 to certain executive
directors under the MFI Furniture Group Plc Performance Share Plan vested
following satisfaction of the performance target measured over the 3-year period
to 31 December 2002. The Company achieved the highest Total Shareholder Return
over the 3-year period when measured against a comparator group of industry
peers selected from the General Retailers Index. Consequently the executive
directors listed below were granted a nil price option over a total of 1,297,061
MFI Furniture Group Plc shares ('Shares'). These options are exercisable for a
period of 10 dealing days starting on 27th February 2003 and ending on 12th
March 2003, after which they will lapse if not exercised.


The executive directors exercised these options to acquire the Shares subject to
the award on 28th February. The exercise of this option triggered an income tax
liability and to fund payment of this tax charge 518,825 Shares were sold at 107
pence per Share on 28th February 2003.


The details are as follows:

Name                   Options granted       Options exercised     Shares sold to fund   Shares retained
                                                                        tax charge
John Hancock               476,190                476,190                190,476             285,714
Mark Horgan                249,084                249,084                 99,634             149,450
Matthew Ingle              293,399                293,399                117,360             176,039
Bob Wilson                 278,388                278,388                111,355             167,033


The interests of the Directors in the Company's Shares, excluding beneficial
interests in their conditional Shares held under the terms of the Executive
Co-Investment Plan and Shares generally held in the MFI Furniture Group Plc
Employee Share Trust, following this transaction were as follows:

Name                   Prior to exercise     Following exercise

John Hancock                407,173                692,887
Mark Horgan                 32,186                 181,636
Matthew Ingle               154,778                330,817
Bob Wilson                  79,169                 246,202


Gordon MacDonald had previously elected to waive his rights under the
Performance Share Plan 2000 Award in favour of an award of conditional shares to
count as Conditional Commitment Shares under the MFI Furniture Group Plc
Executive Co-Investment Plan as detailed in part two below.




PART TWO - MFI FURNITURE GROUP PLC EXECUTIVE CO-INVESTMENT PLAN


We also advise that on 27th February 2003 Computershare Trustees (C.I.) Limited
(the 'Trustee') transferred 155,809 Shares to Computershare Nominees (C.I.)
Limited to be held in the designated account of Gordon MacDonald.


The directors of MFI Furniture Group Plc are deemed to be interested in all of
the Shares held by the Trustee as potential beneficiaries of the MFI Furniture
Group Plc Employee Share Trust (the 'Trust') and in the Shares held by
Computershare Nominees Limited in their respective designated accounts under the
administrative arrangements for the Co-Investment Plan.


As noted in part one above, Gordon MacDonald waived his rights to receive
263,736 Shares under the Performance Share Plan in favour of this award of
Conditional Commitment Shares to be held under the terms of the Executive
Co-Investment Plan. The total number of shares waived by Gordon MacDonald was
263,736 however only 155,809 were needed to complete his required commitment
under the Executive Co-Investment Plan. Accordingly the Trustee granted a nil
cost option over the remaining 107,927 Shares as detailed in part three below.


PART THREE - GRANT OF NIL COST OPTIONS


We also advise that on 27th February the Trustee granted a nil cost option over
107,927 Shares to Gordon MacDonald. These options are exercisable for a period
of 10 dealing days starting on 27th February 2003 and ending on 12th March 2003,
after which they will lapse.


Gordon MacDonald exercised this option on 28th February. This exercise triggered
an income tax liability and to fund payment of this tax charge 43,171 Shares
were sold at 107 pence per Share on 28th February 2003.

Name                       Options granted    Options exercised    Shares sold to fund   Shares retained
                                                                       tax charge
Gordon MacDonald               107,927             107,927               43,171               64,756




Gordon MacDonald's interests in the Company's Shares, excluding the beneficial
interests in his conditional Shares held under the terms of the Executive
Co-Investment Plan and Shares generally held in the MFI Furniture Group Plc
Employee Share Trust, following this transaction were as follows:

Name                      Prior to exercise   Following exercise

Gordon MacDonald                  -                 64,756






Enquiries should be directed to:


Gerard Hughes, Company Secretary:      020 8200 8000
Katya Reyner, Brunswick Group Ltd:     020 7404 5959









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