Director Shareholding

Slough Estates PLC
23 June 2004





JRP/LG

23 June 2004

Slough Estates plc

We have been advised by the Trustees of the Slough Estates plc 1994 Employee
Benefit Trust (the 'Trust') that 25,404 shares were released to participants
under the terms of the Company's Long Term Incentive Plan. The Trustees sold on
22 June 2004 a total of 11,285 ordinary shares, at a price of 442p 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        3,351                      0               3,351
J A N Heawood          2,547                  1,019               1,528
R D Kingston           2,681                  1,072               1,609
M D Lees               3,374                  1,349               2,025

Each director's total shareholding is now:

Name                                    No. of Shares
------                                  ---------------

Sir Nigel Mobbs                             595,226
J A N Heawood                                52,733
R D Kingston                                 67,509
M D Lees                                     53,436

The holding of the Trustees in ordinary shares following the release of ordinary
shares is 839,835 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 96,248
J A N Heawood                   up to a maximum of 74,449
R D Kingston                    up to a maximum of 80,197
M D Lees                        up to a maximum of 84,623




                      This information is provided by RNS
            The company news service from the London Stock Exchange