Directorate

GRAINGER TRUST PLC
30 September 1999


Grainger Trust Plc announces with regret, the retirement from the Board of Peter
Milburn due to ill health, effective 30th September 1999.

Stephen Dickinson, Managing Director, comments:- We are extremely sorry to lose
the services of Peter in this way.  He has made a tremendous contribution to the
Group since he joined us in 1985, in particular being responsible for the
successful Hatch Warren and Kennel Farm developments.  His cheerful and helpful
presence and wise counsel will be much missed by all Grainger personnel.