Directors' Interests

RIT Capital Partners PLC
19 July 2005


Directors' Interests

Grants of Share Appreciation Rights ('SARs') over £1 ordinary shares of RIT
Capital Partners plc ('RITCP') have today been made to the following directors,
under the terms of the J. Rothschild Capital Management Share Appreciation
Rights Plan, as follows:

Director        SAR exercise price      Notional no. of RITCP ord. shares
------------    ----------------        ------------------------

Lord Rothschild         786p                         152,672
Duncan Budge            786p                         101,781

SAR grants entitle the holder to the payment of a bonus between the third and
tenth anniversaries of the relevant date of grant, calculated by reference to a
notional number of RITCP £1 ordinary shares. The bonus will amount to the
increase since the date of grant in the RITCP share price multiplied by the
notional number of shares.

In both cases above, the SARs awarded shall be exercisable between 19 July 2008
and 18 July 2015, conditional upon the performance hurdle being achieved in the
three years' vesting period ending on 19 July 2008. The hurdle is calculated by
reference to the RITCP share price plus dividends paid, which must exceed RPI
plus 3% per annum.

Following the grants made today, the outstanding SARs held by the directors are
as follows:

                    Notional no. of  SAR exercisable                     Dates
Director          RITCP ord. shares            price               exercisable
----------------- -----------------  ---------------     ---------------------

Lord Rothschild             587,371           340.5p     30 Mar 02 - 29 Mar 09
                            228,833           437.0p     22 Mar 03 - 21 Mar 10
                            262,467           381.0p     26 Mar 06 - 25 Mar 13
                            152,672           786.0p     19 Jul 08 - 18 Jul 15

Duncan Budge                287,371           340.5p     30 Mar 02 - 29 Mar 09
                            228,833           437.0p     22 Mar 03 - 21 Mar 10
                            262,467           381.0p     26 Mar 06 - 25 Mar 13
                            101,781           786.0p     19 Jul 08 - 18 Jul 15




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