Director Shareholding

Terrace Hill Group PLC
22 July 2003

TERRACE HILL GROUP PLC ('the Company')



Director Shareholding



Mr Donald Ross Macdonald, Joint Managing Director of the Company, has today
purchased 5,000 Shares in the Company at a price of 19p each. Mr Macdonald's
interest in the share capital of the Company has today increased from 519,522
Shares (0.34%) to 524,522 Shares (0.34%).



The Shares referred to in the announcement are the issued ordinary shares of 2p
each in the Company.



END




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