Acquisition Completed

Grafton Group PLC
2 November 1999


                              GRAFTON GROUP PLC                               
                                                                           
           ACQUISITION OF LATHAM TIMBER CENTRES (HOLDINGS) LIMITED            

Grafton Group plc announces completion of the previously announced acquisition
of Latham Timber Centres (Holdings) Limited, a timber and building materials
business with a turnover of Stg£13.7 million which trades from four locations
in South East England, following approval of the transaction by James Latham
plc shareholders.

For reference:                                               Michael Chadwick 
                                                           Executive Chairman
                                                            Grafton Group plc
                                                Telephone:(++353)[phone]

                                                                   Joe Murray
                                                           Murray Consultants
                                                Telephone:(++353)[phone]

                                                               Ginny Pulbrook 
                                                       Citigate Dewe Rogerson 
                                               Telephone:(++44)[phone]

This statement is also available on our website www.graftonplc.com.