Directors' Notification of Dealing in Shares

Grainger Trust PLC
15 May 2000


Letter to Company Announcements Office

Directors Interest in Shares

Robert Henry Dickinson

We have been informed that Mr Robert Henry Dickinson is a trustee of trusts
which hold 128,579 ordinary 25p shares in Grainger Trust plc.  In addition, he
has retired as trustee from a trust which held 6,611 shares.

The net effect of this is to increase Mr. Dickinson's interest in the shares of
the Company to 980,742, representing 3.86% of the issued share capital of the
Company.

Stephen Dickinson

Please note also, that Mr. Stephen Dickinson is co trustee of certain of the
above trusts, so increasing his non-beneficial trustee shareholdings by 34,989.
Mr. Stephen Dickinson's total interest in the shares of the Company now stands
at 1,426,697, representing 5.62% of the issued share capital of the Company.

Letter from Grainger trust plc