Director Shareholding

BWD Securities PLC
7 February 2002

BWD SECURITIES PLC - DIRECTORS' DEALINGS IN SHARES



M. H. Burns, a director of the Company, has today sold 12,000 ordinary shares in
the Company at £4.75 per share.  His total beneficial holding after the disposal
is 123,000 ordinary shares.



B. A. Anysz, a director of the Company, has today sold 3,000 ordinary shares in
the Company at £4.75 per share.  His total beneficial holding after the disposal
is 197,000 ordinary shares.







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