Director Shareholding

Guinness Peat Group PLC
30 April 2004

                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS



1. Name of company

Guinness Peat Group plc


2. Name of director

Trevor Jorgen Nielsen Beyer


3. Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18 or in respect of a non-beneficial
interest

Director Beneficial


4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them (if notified)


Trevor Jorgen Nielsen Beyer - New Zealand Register



5. Please state whether notification relates to a person(s) connected with the
director named in 2 above and identify the connected person(s)

Director


6. Please state the nature of the transaction. For PEP transactions please
indicate whether general/single co PEP and if discretionary/non discretionary

Disposal on New Zealand Market


7. Number of shares / amount of stock acquired

N/A


8. Percentage of issued class

N/A


9. Number of shares/amount of stock disposed

82,616


10. Percentage of issued class

0.01%


11. Class of security

Ordinary 5p shares


12. Price per share

NZ$ 2.17


13. Date of transaction

29 April 2004


14. Date company informed

30 April 2004


15. Total holding following this notification

610,292


16. Total percentage holding of issued class following this notification

0.09%


If a director has been granted options by the company please complete the
following boxes.


17. Date of grant




18. Period during which or date on which exercisable




19. Total amount paid (if any) for grant of the option




20. Description of shares or debentures involved: class, number




21. Exercise price (if fixed at time of grant) or indication that price is to be
fixed at time of exercise




22. Total number of shares or debentures over which options held following this
notification




23. Any additional information




24. Name of contact and telephone number for queries

J R Russell 020 7484 3370


25. Name and signature of authorised company official responsible for making
this notification

J R Russell 020 7484 3370


Date of Notification

30 April 2004 J R Russell 020 7484 3370



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