Harbour Energy Regulatory News (HBR)

Holidaybreak plc

Director/PDMR Shareholding

Holidaybreak plc ("the Company") announces that on 10 January 2011, conditional allocations of ordinary shares of 5p each in the Company were made under the terms of the Holidaybreak plc 2006 Long Term Incentive Plan ("LTIP") to the Directors of the Company as follows:

The awards were based on the mid market share price on 7 January 2011 of 342p. The percentage of the allocation of LTIP awards eventually to vest is dependent on the satisfaction of performance criteria over a three-year performance period ending 30 September 2013:

(a) 50% of the shares (EPS shares) will be subject to a performance condition based on the Company's absolute EPS at the end of the three financial years*.

(b) 50% of the shares (TSR shares) will be subject to a performance condition based on the growth in the Company's absolute Total Shareholder Return (TSR) over the three year period**.

The conditional allocations shown above represent the maximum potential award possible if all performance criteria are met at the end of the three-year performance period. If and to the extent that the performance criteria are met at the end of the three-year performance period, the relevant number of shares will be transferred to executives.

* The maximum allocation of EPS shares only vests if the Company's EPS is equal to or exceeds 49.5p at the end of the three-year period. No shares vest if the EPS is less than 42p. Between 42p and 49.5p shares vest on a scale from 30% to 100%.

** The maximum allocation of TSR shares only vests if the Company's TSR over the performance period is equal to or exceeds average annual compound growth of 13%. No shares vest if the average annual compound growth in the Company's TSR over the performance period is less than 8%. Between 8% and 13% shares vest on a scale from 30% to 100%.

Also on 10 January 2011 Halifax EES Trustees International Limited (trustee of the Company's employee benefit trust) granted a conditional allocation of 43,859 ordinary shares of 5p each in the Company to Neil Bright. The award will ordinarily vest in three equal tranches on the third, fourth and fifth anniversary of the date of grant. The award was granted in connection with and to facilitate Mr Bright's recruitment.

Following the above allocations the directors have notified their interests in the share capital of the Company in accordance with Disclosure Rule 3.1.2 (R) as follows: