RNS Number:6528T
Gladstone PLC
24 December 2003



Gladstone plc ("the Company")
Grant of Options

On 24 December 2003, Ben Merrett, a director of the Company, was granted options
over 1,000,000 ordinary shares of 1 pence each ("Ordinary Shares"), for nil
consideration, under the Gladstone 1999 Unapproved Scheme. These options are
exercisable at a price of 13 pence per Ordinary Share and are exercisable
between 24 December 2006 and 24 December 2010 upon fulfillment of an average 5%
profit growth over three years.

For the last 2 years, during the successful turnaround of the company, Mr
Merrett has not received any Salary increases or bonus payments and has not
requested a salary increase for the current year from the Remuneration
Committee.

In addition, Jeremy Stokes, a director of the Company, was granted options over
1,000,000 Ordinary Shares, for nil consideration, under the Gladstone 1999
Unapproved Scheme, exercisable at a price of 13 pence per Ordinary Share. The
options are exercisable between 24 December 2006 and 24 December 2010 upon
fulfillment of an average 5% profit growth over three years.
Mr Stokes has waived his right to Directors fees of #24,000 for the current year
and will be taking a more active role in the search for acquisitions.




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