Purchase of Own Securities

Grainger Trust PLC
8 March 2001

Re: Grainger Trust plc 10.5% Quoted Debenture Stock 2024

Grainger Trust plc has repurchased and cancelled £1,000,000 nominal of its 10.5%
debenture stock 2024. £6,850,000 nominal remains in issue.

Contact: Andrew Cunningham,              Grainger Trust plc, 
         Finance Director                0191  261 1819
         Francis Burkitt/Tim Waters      Cazenove and Company
                                         020 7588 2828