Directors' Share Interests

Guinness Peat Group PLC
26 May 2004


                          GUINNESS PEAT GROUP plc


                           COMPANY ANNOUNCEMENT

                        DIRECTORS' SHARE INTERESTS


Following the allotment of shares on 14 May 2004 under the Company's Scrip
Dividend Alternative allotted at a rate of 1 new share for every 70 elected and
the allotment of shares on 24 May 2004 under the 2004 Capitalisation Issue and
the offer for A shares in Coats Group Ltd (together "the GPG Stock Events 2004
"), Guinness Peat Group plc ("GPG") announces the following increased interests
of its directors in the securities of the Group:

--------------------------------------------------------------------------------
                    Guinness Peat Group plc           GPG (UK) Holdings plc
                  Ordinary Shares of 5p each          Convertible Loan Notes
--------------------------------------------------------------------------------
                                 Percentage of                     Percentage of
                                 shares in issue                   CLNs in issue
--------------------------------------------------------------------------------
                    No. shares                        No. CLNs
Sir Ron Brierley    33,248,654        3.89%          1,966,789          3.26%
T J N Beyer            321,372        0.04%          1,554,705          2.58%
G J Cureton            168,927        0.02%                  -             -
A I Gibbs              905,679        0.11%            913,433          1.51%
B A Nixon            6,504,900        0.76%                675             -
Dr G H Weiss         9,301,861        1.09%                  -             -

As at close of business in UK on 25 May 2004 Guinness Peat Group plc had
854,644,871 shares in issue, and GPG (UK) Holdings plc had 60,294,864
Convertible Loan Notes in issue.


Richard Russell
Company Secretary
26 May 2004


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