23 May 2003

Regulatory News Service

London Stock Exchange

Old Broad Street

London EC2N 1HP

Dear Sirs

Capital Radio plc - Notification of Directors' Interests

On 21 May 2003 the following directors were granted Share Options under the
1998 Share Option Scheme as set out below:-

Name                          Number of Options           Option Price       
                                                                             
David Mansfield                    98,550                    �4.275          
                                                                             
Paul Davies                        59,696                    �4.275          
                                                                             
Peter Harris                       51,977                    �4.275          
                                                                             
Linda Smith                        49,404                    �4.275          

These Options are subject to performance conditions and if satisfied will be
exercisable from 21 May 2006.

Yours sincerely

Nathalie Schwarz

Company Secretary



END