RNS Number:8312R
Vanco PLC
07 November 2003


                                   Vanco plc


                              Directors' Interests


Vanco plc (the "Company") announces that on 7 November 2003 certain of its
managers acquired existing deferred ordinary shares of 0.1p each ("VGL Shares")
in its subsidiary, Vanco Group Limited ("VGL"), from the Vanco Group Employee
Benefit Trust under the Vanco Group Employee Incentivisation Scheme (the
"Scheme"). These VGL Shares may be exchangeable, in accordance with the rights
attaching to them, for 5p Ordinary Shares in the Company ("PLC Shares").


This incentivisation has not involved the issue of any new VGL Shares and
consequently does not affect the maximum number of PLC Shares that Vanco Group
employees may receive under the Scheme. There has therefore been no dilution of
shareholdings in the Company beyond that disclosed on the flotation of the
Company on 6 November 2001.


Two of these managers are directors of the Company and notified the Company on 7
November 2003 of their interests in VGL Shares together with the maximum number
of PLC Shares which they may become entitled to receive in exchange for their
VGL Shares.

  Name     Number and Class of VGL Shares    Price Payable    Maximum Number of PLC Shares

Ted        46,086 "Q"                             #7,742.52                         100,000
Raffetto   184,346 "QQ"                          #30,970.06
           
Ted        184,346 "S"                           #30,970.06                         400,000
Raffetto   737,382 "SS"                         #123,880.24
           
Prof. Dr.  13,044 "T"                             #2,191.32                          28,302
Thomas     52,174 "TT"                            #8,765.30
Wolf       
           


The "Q" and "QQ" VGL Shares will be exchanged for PLC Shares on 13 November 2004
provided Mr Raffetto remains employed by the Company or one of its subsidiaries
on such date.


460,864 "S" and "SS" VGL Shares will be exchanged for PLC Shares, conditional
upon the satisfaction of performance criteria referable to the financial year
ending 31 January 2005, and the remaining 460,864 "S" and "SS" VGL Shares will
be exchanged for PLC Shares, conditional upon the satisfaction of performance
criteria referable to the financial year ending 31 January 2006.


The VGL Shares acquired by Mr Raffetto are in addition to the 67,500 "B" and
"BB" VGL Shares he currently holds. This number includes the "B" and "BB" VGL
Shares that will be exchanged for PLC Shares on 13 November 2003 under the
Scheme.


32,609 "T" and "TT" VGL Shares will be exchanged for PLC Shares on 13 November
2004, and the remaining 32,609 "T" and "TT" Shares will be exchanged for PLC
Shares on 13 November 2005, provided Prof. Dr. Wolf remains employed by the
Company or one of its subsidiaries on such date.


The VGL Shares acquired by Prof. Dr. Wolf are in addition to the 37,500 "B" and
"BB" VGL Shares he currently holds. This number includes the "B" and "BB" VGL
Shares that will be exchanged for PLC Shares on 13 November 2003 under the
Scheme.


Minor amendments have been made to the performance criteria attached to the
existing holdings of VGL Shares of two other directors of the Company, Wayne
Churchill and Tony Nester. These amendments do not alter either the number of
VGL Shares held by these two directors, nor the maximum number of PLC Shares
which they may receive in exchange for their VGL Shares.


About Vanco


Established in 1988, Vanco plc (FTSE: VAN) is the leading global Virtual Network
Operator. With solutions available in 230 countries and territories, Vanco is
selected by the world's largest organisations to provide strategic network
solutions. Its customers include Avis Europe, Virgin Retail, Ford Motor Company,
Pilkington, RMC Group and Smith & Nephew.


Through the Vanco network solution customers get access to the greatest
geographic coverage available through a single provider. Vanco offers
incomparable flexibility to customise and adapt the solution in line with market
changes and business priorities.


Vanco is recognised by the industry for its financial success and world class
customer service delivery. A significant proportion of its investment capital
goes into customer care which is reflected by the awards won, independent market
research and customer retention.


For further information please contact:


Vanco plc

Simon Hargreaves, Finance Director

T. +44 (0) 20 8636 1700

E. simon.hargreaves@vanco.co.uk


Andy Brown, PR Manager

T. +44 (0) 20 8636 1721

E. andy.brown@vanco.co.uk


Further information on Vanco please visit our website www.vanco.co.uk







                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
RDSEASFXEAADFFE