RNS Number:7427W
Warner Estate Holdings PLC
31 May 2002

                   Warner Estate Holdings PLC ("the Company")

                            Director's Shareholding

Messrs. P C T Warner, P W Collins and R Moore, Directors of the Company, each
purchased 76 Ordinary shares in the Company today at 332.5p each under the
Company's All Employee Share Ownership Plan ("the AESOP"). Each Director
purchased 38 of their shares as Partnership Shares and 38 shares each were
purchased by the Company as Matching Shares under the rules of the AESOP. The
shares were purchased on their behalf by Capita IRG Trustees Limited, the
Trustee of the AESOP. The Trustee will hold the Shares in Trust for a minimum
period of five years following the date of the purchase. The shares purchased
represent less than 0.001 per cent. of the Company's issued ordinary share
capital.

The Directors' total interests under the AESOP are as follows:-

                       No. of Partnership       No. of Matching      No. of Dividend
                             Shares                 Shares               Shares
                                                                                          Total

P C T Warner                  307                     307                   0              614
P W Collins                   307                     307                   8              622
R Moore                       307                     307                   8              622


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

Date: 31 May 2002.

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

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