BWD Securities PLC

Directors' Dealings

BWD SECURITIES PLC
24 August 1999



DIRECTORS' INTEREST IN SHARES

The following Directors acquired ordinary shares at 89p each following the
maturity of the Company's SAYE Scheme on 2nd August 1999


Name                  Number of Shares Acquired

M H Burns                       10,955
B A Anysz                       10,955
M J Dickinson                    4,382