Interest on CLN's

Guinness Peat Group PLC
28 November 2002



    Interest on 8% Convertible Subordinated Unsecured Loan Notes 2005 ('the
                                    CLNs')

Guinness Peat Group plc ('GPG') confirms that interest on its CLNs for the half-
year up to (but not including) 31 December 2002 will be despatched on Monday 30
December 2002 for payment on 31 December 2002.

The interest on each CLN will be 1.20 pence and will be payable to CLN holders
on the Australian register of CLN holders as at 5:00 pm (local time) on 12
December 2002 and on the UK and NZ registers at 5:00pm (local time) on 13
December 2002. Following certain changes to UK tax legislation from 1 April 2001
interest payments made on the CLNs will be made without the deduction of any UK
withholding tax.

Interest will normally be paid in the currency of the country in which the CLNs
are registered. However, for payment to holders requiring interest in Australian
or New Zealand dollars, the relevant exchange rate for conversion will be
established in London at the close of business on 20 December 2002.

CLN holders will also have received a circular dated 4 November 2002, which
referred to the proposed merger of Guinness Peat Group plc with Brunel Holdings
plc. CLN holders were advised that they would have an additional opportunity to
convert all but not some only of their CLNs following the effective date of the
transaction. A separate letter describing this additional right of conversion
will be sent to all CLN holders following 13 December 2002, which is the
anticipated effective date of the transaction. Any exercise of such conversion
right will not affect any CLN holder rights or entitlements to the interest
payable on 31 December 2002.

CLN holders should take note that GPG continues to offer a facility whereby
holders may elect to take interest on their entire holding in any one of GPG's
three principal trading currencies (being Sterling or Australian or New Zealand
dollars) provided that such election is made, in writing, to the Registrar of
the register on which their CLNs are held in UK, Australia or New Zealand as
appropriate, by 3:00 pm (local time) on 13 December 2002. 


The timetable is therefore:

Ex-interest Date (Australia)                                   6 December 2002 

Ex-interest Date (UK)                                         11 December 2002 

Record Date (Australia):         5:00 pm local time           12 December 2002 

Record Date (NZ and UK):         5:00 pm local time           13 December 2002

Election for Currency Option:    By 3:00 pm local time        13 December 2002

Ex-interest date (NZ)                                         16 December 2002

Exchange Rate for Currency       Close of business (London)   20 December 2002 
Option:

Cheques Despatched:                                           30 December 2002

Payment Date
                                                              31 December 2002


For enquiries please contact the Company's Registrars as follows:

UK              Computershare Investor Services Plc               0870 702 0010 

Australia       Registries Ltd                                    02 9279 0677 

New Zealand     Computershare Investor Services Ltd               09 488 8777


                      This information is provided by RNS
            The company news service from the London Stock Exchange