Acquisition

Grainger PLC
21 December 2007

21 December 2007



                                  GRAINGER PLC
                         ("Grainger" / the "Company")

                        GRAINGER ACQUIRES STAFFORDSHIRE
                           ESTATE FOR £34.55 MILLION


Grainger plc, the UK's largest quoted residential property owner, today
announces that it has exchanged contracts on the purchase of The Ranton Estate,
an agricultural and residential estate in Staffordshire, from its trustees for
£34.55 million in an off-market transaction. The Estate produces annual rent of
£762,000.



The Ranton Estate comprises approximately 60 houses and cottages, the majority
of which are held under Assured Shorthold Tenancies, along with over 5,200 acres
of land.  The land is predominantly currently held under a mixture of Farm
Business Tenancies and Agricultural Holdings Tenancies.



Commenting on the acquisition, Rupert Dickinson, chief executive of Grainger
plc, said:



"This transaction underlines our ability to identify opportunities to acquire
assets that complement our existing reversionary portfolios and execute them in
off-market transactions, thereby ensuring we deliver maximum value to our
shareholders."







                                      ENDS



For further information:


Grainger plc:                                        Tel: [phone]
Rupert Dickinson
Michael Lamyman

Financial Dynamics:                                  Tel: [phone]
Stephanie Highett
Dido Laurimore
Jamie Robertson












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