RNS Number:1374K
Marlborough Stirling PLC
16 April 2003

Marlborough Stirling plc

Director's dealings


As detailed in the disclosure at the time of placing of directors' shares on
16th April 2002, Christopher Ryland, a director of Marlborough Stirling plc (and
his connected trusts) entered into stock lending and financial futures hedging
transactions in respect of Marlborough Stirling plc shares.

These arrangements have now matured. In accordance with the terms of these
arrangements, the shares lent by Christopher Ryland (and his connected trusts)
under the stock lending agreements have now been re-delivered to them ("the
Shares"). There has also been a sale of the same aggregate number of Shares
relating to the financial futures. Maturity of the arrangements has no impact on
the total underlying beneficial interests of Christopher Ryland (and his
connected trusts) of 17,586,389, as disclosed in the Notification of Directors
Interests made by Marlborough Stirling plc on 5 March 2003.

Under the model code, disclosure of the above transaction is required which is
set out below.

DISCLOSURE

On 16th April 2003, the following stock loans matured and Shares were
redelivered to the following parties:

                                            Shares re-delivered

The Christopher Ryland (No.1) 
Discretionary Settlement                    1,167,404

The Christopher Ryland (No.2) 
Discretionary Settlement                    1,167,404

Total Shares re-delivered                   2,334,808


In addition, hedging transactions for the following party matured on 16th April
2003. As part of the settlement relating to the maturity of these hedging
transactions, the following party has sold Shares:

                                           Shares sold

The JM Deane Ryland Family Settlement      2,334,808

Total Shares sold                          2,334,808


Following the above transactions, Christopher Ryland (and his requisite holdings
in trust) retain an interest in the following number of ordinary shares in
Marlborough Stirling plc:

                           Number of shares        % of issued ordinary share 
                                                   capital *

Christopher Ryland         17,586,389              7.79%

* Based on 225,716,013 ordinary shares currently in issue.


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

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