Director Shareholding

Guinness Peat Group PLC
28 May 2003

                            GUINNESS PEAT GROUP plc

                              COMPANY ANNOUNCEMENT

                           DIRECTORS' SHARE INTERESTS


Following the allotment of shares on 16 May 2003 under the Company's Scrip
Dividend Alternative allotted at a rate of 1 new share for every 50 elected and
the allotment of shares on 27 May 2003 under the 2003 Capitalisation Issue,
Guinness Peat Group plc ("GPG") announces the following increased interests of
its directors in the securities of the Group:


                                                 
                       GPG (UK) Holdings plc        Guinness Peat Group plc
                      Convertible Loan Notes     Ordinary Shares of 5p each

Sir Ron Brierley                  26,716,702                      1,966,789
T J N Beyer                          995,806                      1,000,000
G J Cureton                          135,400                              -
A I Gibbs                            403,180                        688,846
B A Nixon                          4,291,005                            675
Dr G H Weiss                       4,523,033                              -


GPG currently has 696,461,732 ordinary shares of 5p each in issue, and GPG (UK)
Holdings plc has 34,247,002 CLNs in issue.


Richard Russell
Company Secretary
28 May 2003


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