Director Shareholding

Panther Securities PLC
12 December 2000

                                 SCHEDULE 11

         NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS


1)  Name of company

PANTHER SECURITIES PLC

2)  Name of director

PETER ASTON ROWSON

3)  Please state whether notification indicates that it is in respect of
    holding of the shareholder named in 2 above or in respect of a
non-beneficial interest or in the case of an individual holder if it is a
holding of that person's spouse or children under the age of 18 or in respect
of a non-beneficial interest

DIRECTOR NAMED IN 2 ABOVE

4)  Name of the registered holder(s) and, if more than one holder, the
    number of shares held by each of them (if notified)



5)  Please state whether notification relates to a person(s) connected
    with the Director named in 2 above and identify the connected person(s)



6)  Please state the nature of the transaction. For PEP transactions
    please indicate whether general/single co PEP and if discretionary/non
    discretionary



7)  Number of shares/amount of
    stock acquired

3,380

8)  Percentage of issued class

0.02 PER CENT.

9)  Number of shares/amount
    of stock disposed



10) Percentage of issued class



11) Class of security

ORDINARY SHARES OF 25P EACH

12) Price per share

£1.32

13) Date of transaction

11TH DECEMBER, 2000

14) Date company informed

12TH DECEMBER, 2000

15) Total holding following this notification

78,380

16) Total percentage holding of issued class following this notification

0.46 PER CENT.

If a director has been granted options by the company please complete the
following boxes

17) Date of grant



18) Period during which or date on which exercisable



19) Total amount paid (if any) for grant of the option



20) Description of shares or debentures involved: class, number



21) Exercise price (if fixed at time of grant) or indication that price
    is to be fixed at time of exercise



22) Total number of shares or debentures over which options held
    following this notification



23) Any additional information



24) Name of contact and telephone number for queries

PETER ROWSON:  020 7278 8011

25) Name and signature of authorised company official responsible for
    making this notification

    Date of Notification:  12TH DECEMBER, 2000