RNS Number:0101T
Tops Estates PLC
08 December 2003


TOPS ESTATES PLC
8th December 2003


                 Director's Shareholding and Additional Listing

     On the 5th December 2003, Adam Hayden Cohen, Director, executed the option
over his 200,000 Ordinary Shares of 25p each (representing 0.0044% of the issued
share capital), granted under the Executive Share Option Scheme on 1st February
1996, at an aggregate price of #1.325 per Share.

     Due to commitments for the construction of his home extension, Mr. Cohen
subsequently disposed of 180,000 Shares(representing 0.0039% of the issued share
capital) at a price of #2.55 per Share and, following this transaction, his
holding is now 21,000 Ordinary Shares of 25p each (representing 0.00046% of the
issued share capital).

Application has been made to the London Stock Exchange and the UK Listing
Authority for a total of 200,000 Ordinary 25 pence shares to be admitted to the
Official List. The shares rank pari passu with the existing class of Ordinary
Shares. Following the exercise of the options the number of shares in issue is
45,547,284.


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