RNS No 8055d
CREST NICHOLSON PLC
1st July 1997

Schedule 11 - Notification of interests of Directors and Connected Persons

1   Name of company:
Crest Nicholson Plc

2   Name of director:
J. Callcutt

3   Please state whether notification indicates that it is in respect of     
holding of the director named in 2 above or holding of that person's spouse or
children under the age of 18 or in respect of a non- beneficial interest:
J. Callcutt

4   Name of registered holder(s) and, if more than one holder, the number of 
shares held by each of them (if notified):
-

-

5   Please state whether notification relates to a person(s) connected with  
the director named in 2 above and identify the connected person(s):
-

6   Please state the nature of the transaction. For PEP transactions please  
indicate whether general/single co PEP and if discretionary/non discretionary:
Exercise of 158,340 share options at 39.79p per share and sale of 61,620
ordinary shares to finance exercise cost in order to retain balance of 96,720
shares.

7   Number of shares/amount of stock acquired:
158,340

8   Percentage of issued class:
0.16%

9   Number of shares/amount of stock disposed:
61,620

10  Percentage of issued class:
0.06

11  Class of security:
Ordinary 10p shares

12  Price per share:
Sale - 103p

13  Date of transaction:
1.7.97

14  Date company informed:
1.7.97

15  Total holding following this notification:
 143,907

16  Total percentage holding of issued class following this notification:
0.14

If a director has been granted options by the company, please complete the
following fields:

17  Date of grant:


18  Period during which or date on which exercisable:


19  Total amount paid (if any) for grant of the option:


20  Description of shares or debentures involved: class, number:


21  Exercise price (if fixed at time of grant) or indication that price is to
be fixed at time of exercise:


22  Total number of shares or debentures over which options held following
this notification:


23  Contact name for queries:
M.J. Cutler

24  Contact telephone number:
01932 847272

25  Name of company official responsible for making notification:
M.J. Cutler


Additional Information:



END


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