RNS Number:1752N
Applied Optical Technologies PLC
04 July 2003


APPLIED OPTICAL TECHNOLOGIES


DIRECTORS' SHAREHOLDINGS


As part of the Company bonus scheme, the Company's Directors and Rick Salomone,
whose appointment as a Director will become effective on 15 August 2003, have
made share purchases from the AH LTIP Trustee Company Limited yesterday at a
price of 25 pence per share. Their purchases and resultant holdings are as
follows:


 Director          Amount of     New            Percentage of the Company's Issued   
                   shares        shareholding   Share Capital                        
 
 Mark              20,000        170,000                                 0.31%  
 Turnage                                                                        
 
 Mike              15,000        109,000                                 0.21%  
 Angus                                                                          
 
 Peter             10,000         32,000                                 0.06%  
 Emerson                                                                        
 
 Rick              35,000         35,000                                 0.07%  
 Salomone                                                                       


Under the terms of the scheme, shares purchased by individuals are matched by
the Company on a one-for-one basis. These matching shares vest with the
individuals in three years time dependant upon continued employment, continued
ownership of the original shares and growth in the Company's adjusted earnings
per share being equal to or greater than the sum of the retail price index
measure of inflation (RPI) plus 15 per cent over the three years ending 31 March
2006.


As the Company recorded a loss per share for the year ended 31 March 2003 (being
the base point for the assessment of the matching shares) the base EPS will be
taken as Brewin Dolphin Securities' forecast EPS for the year ended 31 March
2004 discounted by the RPI for that year plus 5 per cent.


Other members of the management team purchased 33,900 shares under the same
scheme and the resultant holding of the AH LTIP Trustee Company is now 2,486,100
(representing 4.66% of the Company's Issued Share Capital).






                      This information is provided by RNS
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