SAR - Perry Group Plc

Guinness Peat Group PLC
5 February 2001


Letter To:    Company Announcements Office

Re: Perry Group Plc

In accordance with the Rules Governing Substantial Acquisition of Shares, the
following is the text of a Disclosure sent today to the Company Secretary of
Perry Group plc.


re:  Disclosure of Interest in Shares Pursuant to Rule 3 of
     The Rules Governing Substantial Acquisitions of Shares


Guinness Peat Group plc and its subsidiary companies ('the Group') hereby notify
Perry Group plc ('Perry') that following the market purchase of 250,000 Ordinary
25p shares ('Shares') on 2 February 2001 the Group's interest in the Shares of
Perry now amounts to 4,299,483 representing 16.26% of the issued share capital.

So far as the Group is aware, no person interested in the Shares is party to any
agreement or arrangement relating to the exercise of any rights conferred by
holding the Shares subject to this notification.

Letter From:  Guinness Peat Group plc