23 October 2003

DIRECTOR'S SHAREHOLDING

The Company has been notified today of the following dealing in its ordinary
shares of 25p by an executive director, Charles Gregson:-

The acquisition of 26 shares at 457.25p per share - representing the automatic
reinvestment of dividend by PEP Manager.

The dealing took place on 23 October 2003.

As a result of this dealing Mr Gregson's overall beneficial shareholding is
359,742 United shares, representing 0.10% of issued ordinary shares.

Anne Siddell

Group Company Secretary



END