Director	No of share options as at 31 March 2004	No of share options granted during the year	No of share options exercised during the year	Subscription price £	Exercisable 3-10 years from	No of share options as at 31 March 2005	Expected value (£)
EAG Mackay	5,586	–	–	5.37	16/03/1999	5,586	13,200
MI Wyman	5,586	–	(5,586)	5.37	16/03/1999	–	–

No variations have been made to the terms and conditions of the options, including the performance conditions to which their vesting is subject (as set out in page 54). Details of exercised options are provided below.

Director	Share options exercised during the the year	Subscription price £	Market price at date of exercise £	Gross pre-tax gain £
MI Wyman	5,586	5.37	8.60	18,042,78

Note: Mr Wyman was granted replacement Approved options on 20 May 2005, in the amount of 3,623 shares at a subscription price of £8.28 per share as part of his 2005 grant.

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