Director Shareholding

Grainger Trust PLC
18 December 2000

                       DEALINGS BY DIRECTORS


1)  NAME OF COMPANY

    GRAINGER TRUST PLC

2)  NAME OF DIRECTOR

    ROBERT HENRY DICKINSON

3)  Please state whether notification indicates that it is in respect of
    holding of the shareholder named in 2 above or in respect of a
    non-beneficial interest or in the case of an individual holder
    if it is a holding of that person's spouse or children under the
    age of 18 or in respect of an non-beneficial interest

    NON-BENEFICIAL

4)  Name of the registered holder(s) and, if more than one holder, the
    number of shares held by each of them. (If notified)

    ROBERT HENRY DICKINSON AND NIGEL BELLIS

5)  Please state whether notification relates to a person(s) connected
    with the Director named in 2 above and identify the connected person(s)

    DIRECTOR

6)  Please state the nature of the transaction. For PEP transactions
    please indicate whether general/single co PEP and if discretionary/non
    discretionary

    INLAND REVENUE APPROVED STAFF PROFIT SHARING SCHEME

7)  Number of shares/amount of
    stock acquired

    13,343

8)   (0.05 %)
    of issued Class


9)  Number of shares/amount
    of stock disposed

    12,097

10)  (0.05 %)
    of issued Class


11) Class of security

    25p ORDINARY


12) Price per share

    PURCHASE £6.55
    SALE   NON-MARKET TRANSFER

13) Date of transaction

    18/12/00

14) Date company informed

    18/12/00

15) Total holding following this notification

    974,270

16) Total percentage holding of issued class following this notification

    3.95%

     IF A DIRECTOR HAS BEEN GRANTED OPTIONS BY THE COMPANY PLEASE
                    COMPLETE THE FOLLOWING BOXES

17) Date of grant



18) Period during which or date on which exercisable



19) Total amount paid (if any) for grant of the option



20) Description of shares or debentures involved: class, number.



21) Exercise price (if fixed at time of grant) or indication that price
    is to be fixed at time of exercise



22) Total number of shares or debentures over which options held
    following this notification



23) Any additional information

    SEE LETTER BELOW

24) Name of contact and telephone number for queries

    G. J. DAVIS: 0191 261 1819

25) Name and signature of authorised company official responsible for
    making this notification

   Date of Notification: 18/12/2000                                 




1)  NAME OF COMPANY

    GRAINGER TRUST PLC

2)  NAME OF DIRECTOR

    RUPERT DICKINSON

3)  Please state whether notification indicates that it is in respect of
    holding of the shareholder named in 2 above or in respect of a
    non-beneficial interest or in the case of an individual holder
    if it is a holding of that person's spouse or children under the
    age of 18 or in respect of an non-beneficial interest

    DIRECTOR

4)  Name of the registered holder(s) and, if more than one holder, the
    number of shares held by each of them. (If notified)

    ROBERT H DICKINSON AND N BELLIS:         1,221
    RUPERT DICKINSON:                          951

5)  Please state whether notification relates to a person(s) connected
    with the Director named in 2 above and identify the connected person(s)

    DIRECTOR

6)  Please state the nature of the transaction. For PEP transactions
    please indicate whether general/single co PEP and if discretionary/non
    discretionary

    INLAND REVENUE APPROVED PROFIT SHARING SCHEME, AND ANNUAL STAFF INCENTIVE   
    SCHEME

7)  Number of shares/amount of
    stock acquired

    2,172

8)   (0.009 %)
    of issued Class


9)  Number of shares/amount
    of stock disposed

    -

10) (-%)
    of issued Class
   

11) Class of security

    25p ORDINARY


12) Price per share

    PURCHASE £6.55
    

13) Date of transaction

    18/12/00

14) Date company informed

    18/12/00

15) Total holding following this notification

    172,039

16) Total percentage holding of issued class following this notification

    0.7%

     IF A DIRECTOR HAS BEEN GRANTED OPTIONS BY THE COMPANY PLEASE
                    COMPLETE THE FOLLOWING BOXES

17) Date of grant



18) Period during which or date on which exercisable



19) Total amount paid (if any) for grant of the option



20) Description of shares or debentures involved: class, number.



21) Exercise price (if fixed at time of grant) or indication that price
    is to be fixed at time of exercise



22) Total number of shares or debentures over which options held
    following this notification



23) Any additional information

    SEE LETTER BELOW

24) Name of contact and telephone number for queries

    G. J. DAVIS: 0191 261 1819

25) Name and signature of authorised company official responsible for
    making this notification

   Date of Notification: 18/12/2000                                 




1)  NAME OF COMPANY

    GRAINGER TRUST PLC

2)  NAME OF DIRECTOR

    ANDREW CUNNINGHAM

3)  Please state whether notification indicates that it is in respect of
    holding of the shareholder named in 2 above or in respect of a
    non-beneficial interest or in the case of an individual holder
    if it is a holding of that person's spouse or children under the
    age of 18 or in respect of an non-beneficial interest

    DIRECTOR

4)  Name of the registered holder(s) and, if more than one holder, the
    number of shares held by each of them. (If notified)

    ROBERT H DICKINSON AND N BELLIS:         1,221
    ANDREW CUNNINGHAM:                       2,228

5)  Please state whether notification relates to a person(s) connected
    with the Director named in 2 above and identify the connected person(s)

     DIRECTOR

6)  Please state the nature of the transaction. For PEP transactions
    please indicate whether general/single co PEP and if discretionary/non
    discretionary

    INLAND REVENUE APPROVED PROFIT SHARING SCHEME, AND ANNUAL STAFF INCENTIVE   
    SCHEME AND ANNUAL INCENTIVES SCHEME

7)  Number of shares/amount of
    stock acquired

    3,449

8)   (0.01 %)
    of issued Class


9)  Number of shares/amount
    of stock disposed

    -

10) (-%)
    of issued Class


11) Class of security

    25p ORDINARY


12) Price per share

    PURCHASE £6.55
    

13) Date of transaction

    18/12/00

14) Date company informed

    18/12/00

15) Total holding following this notification

    32,336

16) Total percentage holding of issued class following this notification

    0.13%

     IF A DIRECTOR HAS BEEN GRANTED OPTIONS BY THE COMPANY PLEASE
                    COMPLETE THE FOLLOWING BOXES

17) Date of grant



18) Period during which or date on which exercisable



19) Total amount paid (if any) for grant of the option



20) Description of shares or debentures involved: class, number.



21) Exercise price (if fixed at time of grant) or indication that price
    is to be fixed at time of exercise



22) Total number of shares or debentures over which options held
    following this notification



23) Any additional information

    SEE LETTER BELOW

24) Name of contact and telephone number for queries

    G. J. DAVIS: 0191 261 1819

25) Name and signature of authorised company official responsible for
    making this notification

   Date of Notification: 18/12/2000                                 



1)  NAME OF COMPANY

    GRAINGER TRUST PLC

2)  NAME OF DIRECTOR

    STEPHEN DICKINSON

3)  Please state whether notification indicates that it is in respect of
    holding of the shareholder named in 2 above or in respect of a
    non-beneficial interest or in the case of an individual holder
    if it is a holding of that person's spouse or children under the
    age of 18 or in respect of an non-beneficial interest

    DIRECTOR

4)  Name of the registered holder(s) and, if more than one holder, the
    number of shares held by each of them. (If notified)

    ROBERT HENRY DICKINSON AND NIGEL BELLIS: 
                           

5)  Please state whether notification relates to a person(s) connected
    with the Director named in 2 above and identify the connected person(s)

    DIRECTOR

6)  Please state the nature of the transaction. For PEP transactions
    please indicate whether general/single co PEP and if discretionary/non
    discretionary

    INLAND REVENUE APPROVED PROFIT SHARING SCHEME


7)  Number of shares/amount of
    stock acquired

    1,221

8)   (0.005 %)
    of issued Class


9)  Number of shares/amount
    of stock disposed

    -

10) (-%)
    of issued Class


11) Class of security

    25p ORDINARY


12) Price per share

    PURCHASE £6.55
    

13) Date of transaction

    18/12/00

14) Date company informed

    18/12/00

15) Total holding following this notification

    1,387,918

16) Total percentage holding of issued class following this notification

    5.63%

     IF A DIRECTOR HAS BEEN GRANTED OPTIONS BY THE COMPANY PLEASE
                    COMPLETE THE FOLLOWING BOXES

17) Date of grant



18) Period during which or date on which exercisable



19) Total amount paid (if any) for grant of the option



20) Description of shares or debentures involved: class, number.



21) Exercise price (if fixed at time of grant) or indication that price
    is to be fixed at time of exercise



22) Total number of shares or debentures over which options held
    following this notification



23) Any additional information

    SEE LETTER BELOW

24) Name of contact and telephone number for queries

    G. J. DAVIS: 0191 261 1819

25) Name and signature of authorised company official responsible for
    making this notification

   Date of Notification: 18/12/2000