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Notification of Director/PDMR shareholding the Company's Deferred Share Bonus Plan ("DSB")

Following the completion of the three year holding period, and the achievement of the required earnings per share growth, 100% of share awards granted under the DSB on 2 June 2011 have been released. Accordingly, on 2 June 2014 the Executive Directors and PDMR listed below became the legal and beneficial owners of the following Ordinary shares of the Company.

The bonus shares were acquired on 2 June 2011 at a price per share of 513.07 pence. The matching shares were allocated on 2 June 2011 at a price per share of 513.07 pence. The market value of the ordinary shares in the Company on the dealing day immediately prior to the date of release was 1055 pence per share.

Executive Directors	Number of Bonus shares released
George Earle	8,163
Dominic Taylor	10,785
Tim Watkin-Rees	6,973
Executive Directors	Number of Bonus shares released
Graham Bird	1,703

Executive Directors	Number of Matching Shares Awarded	Number of Matching Shares Released	Awards deducted in lieu of tax and NI*	Balance of Matching Shares released
George Earle	17,007	17,007	7,994	9,013
Dominic Taylor	22,469	22,469	10,561	11,908
Tim Watkin-Rees	14,528	14,528	6,829	7,699

PDMR	Number of Matching Shares Awarded	Number of Matching Shares Released	Awards deducted in lieu of tax and NI*	Balance of Matching Shares released**
Graham Bird	3,548	3,548	1,668	1,880

* Tax and National Insurance liability will be satisfied by the Company in cash

** In lieu of the release of shares, the Company made cash awards to the PDMR in the sum equivalent to 1055 pence per share.