Director Shareholding

The Company was informed on 28 July 2011 that on that date Peter Dowen, a Director of the Company, exercised options over 47,551 shares granted under the Company's Executive Share Option Scheme and sold these shares at a price of 236.5 pence per share. Following this disposal Mr Dowen is beneficially interested in 275,910 shares, which represents approximately 0.12% of the issued share capital of the Company.