Issue of Equity

Guinness Peat Group PLC
13 May 2005


                            GUINNESS PEAT GROUP plc

                              COMPANY ANNOUNCEMENT


                           SCRIP DIVIDEND ALTERNATIVE


Guinness Peat Group plc ("GPG") announces that on Friday 13 May 2005 it allotted
5,750,773 Ordinary shares of 5p each in respect of its Scrip Dividend
Alternative to shareholders on the UK, Australian and New Zealand share
registers.


Richard Russell
Company Secretary
13 May 2005



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