Re: Capital Notes

Guinness Peat Group PLC
14 September 2001




Embargoed until 0700                                          14 September 2001




                               GPG FINANCE LTD

                               ('GPG Finance')


                          GPG Finance Capital Notes

                             (ISIN: NZGFND0001S6)
The Directors of GPG Finance advise that the NZ$250 million offer of Capital
Notes by GPG Finance closed on 11 September 2001 fully subscribed. The
Directors of Guinness Peat Group plc ('GPG') and GPG Finance are delighted with
the success of the offering, which was the largest capital note issue ever
undertaken in New Zealand. The issue was Lead Managed and Underwritten by
JBWere (NZ) Limited.

The interest rate payable on the Capital Notes was fixed on 13 September 2001
at 9% per annum.

All of the Capital Notes were issued for cash and have issue dates from 2
August 2001 to 11 September 2001. There are in excess of 7,500 initial
investors in the Capital Notes.

The proceeds of the Capital Note issue will augment existing funds and provide
GPG with added capacity to act quickly and decisively when required.

The offer of Capital Notes was authorized by a resolution of the directors of
GPG Finance on 23 July 2001 and a resolution of the directors of GPG on 24 July
2001 and by a resolution of the shareholders of GPG passed on 20 August 2001.

Secondary trading of the Capital Notes on the NZSE will commence on 14
September 2001.





                                   - ends -