Employee Incentive Scheme - Details

Grainger Trust PLC
29 March 2000

LETTER TO:  COMPANY ANNOUNCEMENTS OFFICE

Our subsidiary company, The Grainger Trust Employee Trustee Limited, today
purchased 100,000 Grainger Trust plc 25p Ordinary Shares at a price of £3.60 per
share.

These shares have been acquired for the purposes of an employee share incentive
scheme.

From:  G J Davis (Company Secretary)