Director/PDMR Shareholding

Warner Estate Holdings PLC ("the Company")

Shareholdings of Directors and PDMRs

Mr R W Game, a Director of the Company, received 926 Ordinary shares in the Company on 30 July 2010 at 27p each under the Company's All Employee Share Ownership Plan ("the AESOP"). Mr R W Game purchased 463 of his shares as Partnership Shares and 463 shares were purchased by the Company as Matching shares under the rules of the AESOP. All 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 Award. The shares received represent less than 0.001 per cent. of the Company's issued ordinary share capital.

Mr Game's total interests under the AESOP are as follows:-

Mr Game's other interests in the shares of the Company are unchanged.

Messrs D Dick, H Patel and V B Vaghela, PDMRs of the Company, each received 926 Ordinary shares in the Company on 30 July 2010 at 27p each under the Company's All Employee Share Ownership Plan ("the AESOP"). Messrs D Dick, H Patel and V B Vaghela each purchased 463 of their shares as Partnership Shares and 463 shares each were purchased by the Company as Matching shares under the rules of the AESOP. All 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 Award. The shares received represent less than 0.001 per cent. of the Company's issued ordinary share capital.

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

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

Date: 2 August 2010