RNS Number:6145M
Warner Estate Holdings PLC
20 June 2003

                   Warner Estate Holdings PLC ("the Company")

                            Directors' Shareholding


Following the calculation of the performance criteria attached to allocations
made on 27 January 2000 under the Company's Long Term Incentive Plan ("the 
Plan"), the vesting of those allocations has been finalised. As a result, 
Messrs. P C T Warner and P W Collins, Directors of the Company, had transferred 
to them the total number of Ordinary shares of 5p in the Company allocated to 
them as follows:-

P C T Warner - 8,204 shares
P W Collins - 8,382 shares.

Mr Collins subsequently sold 3,382 shares at 366.5p. Following the transfer and
sale, Mr Collins is interested in 11,006 shares, representing 0.01 per cent. of
the Company's issued ordinary share capital. Mr Collins no longer has an
interest in the Plan.

Following the transfer to him of 8,204 shares, Mr Warner is interested in
893,033 shares, representing 1.75 per cent. of the Company's issued ordinary
share capital. Mr Warner no longer has an interest in the Plan.

The Directors' other interests in the shares of the Company are unchanged.


Date: 20 June 2003.



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