Corporate Action

Grafton Group PLC
5 April 2001

SUB-DIVISION
SECURITY TITLE
*Uts
MNEMONIC CODE           *GFTU
SEDOL CODE              *673-974
TERMS                   *Each Unit which comprises one Ordinary Share of        
                         EUR0.50 in Grafton Group Plc and one 'C' Ordinary      
                         Share of GBP0.00001 in Grafton Group(UK) Plc will be   
                         subdivided into 10 New Units.
                         A New Grafton Group Unit will comprise one New 
                         Ordinary Share of EUR0.05 in Grafton Group Plc and
                         one New 'C'Ordinary Share of GBP0.0000025 in Grafton 
                         Group(UK) Plc.
PROVISIONAL EFFECTIVE DATE *14-05-01
RECORD DATE             *11-05-01
NOTES *