Directors' Shareholdings

SHORT TERM DEFERRED INCENTIVE PLAN

The following vesting of shares took place on 2 December 2014 under the Short Term Deferred Incentive Plan, followed by a sale of shares by Alistair Darby on 3 December 2014 at 363.00p:

Director
Number of shares vested
Number of shares sold
Total number of shares held after this transaction
Tim Jones
17,646
-
42,377
Alistair Darby
22,218
10,464
105,882

Denise Burton

Deputy Company Secretary

0121 498 6514