RNS Number:2953O
TEP Exchange Group PLC
04 August 2003


                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS


1. Name of company

TEP EXCHANGE GROUP PLC


2. Name of director

GEORGE KYNOCH


3. Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18 or in respect of a non-beneficial
interest

DIRECTOR NAMED IN 2 ABOVE


4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them (if notified)

DIRECTOR NAMED IN 2 ABOVE


5. Please state whether notification relates to a person(s) connected with the
director named in 2 above and identify the connected person(s)




6. Please state the nature of the transaction. For PEP transactions please
indicate whether general/single co PEP and if discretionary/non discretionary

ISSUED IN SATISFACTION OF DIRECTORS FEES


7. Number of shares / amount of stock acquired

274,167 ORDINARY SHARES EACH


8. Percentage of issued class

0.24 PER CENT.


9. Number of shares/amount of stock disposed




10. Percentage of issued class




11. Class of security

ORDINARY SHARES


12. Price per share

1.09p PER SHARE


13. Date of transaction

1ST AUGUST, 2003


14. Date company informed

1ST AUGUST, 2003


15. Total holding following this notification

274,167 ORDINARY SHARES


16. Total percentage holding of issued class following this notification

0.24 PER CENT.


If a director has been granted options by the company please complete the
following boxes.


17. Date of grant




18. Period during which or date on which exercisable




19. Total amount paid (if any) for grant of the option




20. Description of shares or debentures involved: class, number




21. Exercise price (if fixed at time of grant) or indication that price is to be
fixed at time of exercise




22. Total number of shares or debentures over which options held following this
notification




23. Any additional information




24. Name of contact and telephone number for queries

DEBBIE REDMOND 020 8365 4666


25. Name and signature of authorised company official responsible for making
this notification

GEORGE KYNOCH


Date of Notification

1ST AUGUST, 2003


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for loss of business or loss of profits) arising in contract, tort or otherwise
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                      This information is provided by RNS
            The company news service from the London Stock Exchange

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