Marshalls Regulatory News (MSLH)

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

In accordance with DTR 3.1.4(1), Marshalls plc (the "Company") was notified on 11 September 2013 of the grant of options to acquire ordinary shares of 25 pence each in the Company, in the form of a Performance Share Award, on 10 September 2013 to Martyn Coffey under the Marshalls plc 2005 Long Term Incentive Plan (the "LTIP").

The Award was granted under the Rules of the LTIP using stretching and objective performance conditions established specifically to facilitate the recruitment of Martyn Coffey as Chief Executive-designate of the Company, and the Award will not vest unless these performance conditions are satisfied. No consideration was paid for the grant of the Performance Share Award.

A proportion of the Award has been made using a HMRC tax approved share option structure so that, in the event of vesting, under current HMRC rules the growth in value of the first £30,000 in value of an award will be taxed as a capital gain rather than income. This will not result in a higher number of shares being delivered to a participant than if the award had been made as a Performance Share Award without a HMRC tax approved share option structure. The consideration payable on exercise of the proportion of each Performance Share Award represented by HMRC Approved Options will be equal to the market value of the HMRC Approved Options on the date of grant. No consideration will be payable in respect of the proportion of the Performance Share Award represented by nil cost Performance shares.

The Performance Share Award granted to Martyn Coffey under the LTIP on 10 September 2013 was as follows:

The value ascribed to a Performance Share awarded on 10 September 2013 under the LTIP Rules was 164.33 pence.

Enquiries: C E Baxandall, Group Company Secretary, Marshalls plc, 01484 438900