SAR - Ryland Group PLC

Guinness Peat Group PLC
28 May 2002



Disclosure of Interest in Shares Pursuant to Rule 3 of 
The Rules Governing Substantial Acquisition of Shares
 
Guinness Peat Group plc and its subsidiary companies ('the Group') hereby notify
Ryland Group plc ('Ryland') that following three purchases, one being of 
210,000 of Ordinary 10p shares ('Shares') on-market on 19 April 2002, and two
being of 100,000 and 50,000 respectively, of Ordinary 10p shares ('Shares') on-
market on 27 May 2002 the Group's interest in the Shares of Ryland now amount to
8,424,340 representing 28.426% of the issued share capital. 

No member of the Group is party to any agreement or arrangement relating to the 
exercise of any rights conferred by holding the Shares subject to this 
notification.




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