Warner Estate Holdings PLC 17 June 2005 Warner Estate Holdings PLC ("the Company") Director's Shareholding Mr R Moore, a Director of the Company, exercised share options over 47,779 Ordinary shares of 5p in the Company on 16 June 2005 at an option price of 303.5p. The option was granted on 16 August 2001 and has been exercisable since 16 August 2004, the performance criteria attached to the grant having been met in full. Mr Moore subsequently sold 31,985 shares at 605p on 16 June 2005. Following the exercise and sale, Mr Moore is interested in 15,794 shares, representing 0.03 per cent. of the Company's issued ordinary share capital. Mr Moore's other interests in the shares of the Company are unchanged. Date: 17 June 2005. This information is provided by RNS The company news service from the London Stock Exchange