Result of AGM

Guinness Peat Group PLC
17 June 2003


                            GUINNESS PEAT GROUP PLC
                                  ANNOUNCEMENT



Result of Annual General Meeting

Guinness Peat Group plc ("GPG" or the "Company") announces that at its Annual
General Meeting ("AGM" or the "Meeting") held in London on 17 June 2003, all of
the resolutions put to the Meeting, including those relating to the Buyback
Offer and consequent issue of Further Convertible Loan Notes and the proposed
issue of Capital Notes in New Zealand, were duly passed.

It is anticipated that the buyback will become effective, and Further
Convertible Loan Notes will be issued, on 7 July 2003 and that dealings will
commence in the Further Convertible Loan Notes on 8 July 2003

At the Meeting the Chairman, Sir Ron Brierley, announced that the Company's
website was being launched simultaneously with the AGM, and that a report on the
proceedings at the AGM would be published there in due course.  The website
address is www.gpgplc.com.

At the AGM  the following levels of proxy appointments and associated voting
instructions were received prior to the meeting.  Resolution 13 as set out in
the notice of AGM was decided by a poll and as such is excluded from the
schedule.


Resolution  Brief Description                                                                For         Against

         1. To receive the directors' Report & Accounts                                 202,338,241       133,775
         2. To receive and approve the directors' remuneration report                   152,149,956    50,322,080
         3. To re-elect T J N Beyer as director                                         199,009,578     3,462,438
         4. To re-elect Dr G H Weiss as director                                        184,229,169     3,186,415
         5. To appoint Deloitte & Touche as auditors                                    187,275,306       140,298
         6. To authorise the directors to fix the remuneration of the auditors          202,370,938        96,285
         7. To approve the grant of options to directors                                 95,323,305    74,406,502
         8. To approve the increase in authorised share capital                         138,050,296    64,413,918
         9. To authorise the directors generally to allot securities                    184,349,471    18,100,631
        10. To authorise the directors to allot securities for the issue of shares      134,143,554    64,742,328
            pursuant to the step-up rights set out in Article 46A of the Articles of
            Association of GPG (UK) Holdings plc
        11. To disapply statutory pre-emption provisions (Special Resolution)           170,289,447    13,525,711
        12. To authorise the Company to repurchase its own ordinary shares under a      201,855,156       616,880
            Buyback Contract. (Special Resolution)
        14. To authorise the directors generally to offer scrip dividend alternatives.  189,424,467    13,042,333
            (Special Resolution)
        15. To authorise the directors to allot further capital notes and to disapply   178,661,708    52,451,570
            statutory pre-emption provisions in respect of such allotment
            (Special Resolution)



Notes to the disclosure

1. Any proxy appointments which gave discretion to the Chairman have been 
   included in the "for" total.

2. It should be noted that the appointment of a proxy is not an unequivocally 
   precise indicator of the way that the shareholder would have voted
   on a poll, it merely reflects their intention at the time the instruction was
   given.  Voting instructions can be changed at any time prior to a poll being
   demanded, and a shareholder having lodged a proxy is still entitled to attend
   the meeting and having heard/participated in the debate vote their shares
   themselves as they see fit.

3. Capitalised terms used in this announcement shall have the same
   meaning as in the prospectus issued by GPG (UK) Holdings plc on 12 May 2003,
   unless the context requires otherwise.


J R Russell
Company Secretary
17 June 2003


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