Purchase of Own Securities

Grainger Trust PLC
18 July 2002

For immediate release

Purchase of own securities

Grainger Trust has repurchased and cancelled £250,000 nominal of its 10.5%
debenture stock 2024. £4,425,000 nominal remains in issue.

Contact:

Andrew Cunningham, Finance Director, 0191 261 1819

Geoff Davis, Company Secretary, 0191 261 1819

Francis Burkitt/Tim Waters, Cazenove, 020 7825 9942/020 7214 7533



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