Re Directorate

Grainger Trust PLC
14 June 2001


NOTIFICATION TO COMPANY ANNOUNCEMENTS OFFICE OF NEW DIRECTOR


COMPANY: Grainger Trust plc

NAME OF NEW DIRECTOR: Nichola Pease

NON-EXECUTIVE

DATE OF APPOINTMENT: 13th June 2001

1.  Has the new director held any directorships in public quoted companies      
    during the last five years? If so, please give details

    Name of Company                         Still a director?(Y/N) 

    Northern Rock plc                       Y


2.  Has the new director any unspent convictions in relation to indictable      
    offences? If so, please give full particulars.

    No

3.  Details of any bankruptcies or individual voluntary arrangements relating to
    the new director. If there are none, state 'None',

    None

4.  Details of any receiverships, compulsory liquidations, creditors voluntary  
    liquidations, administrations, company voluntary arrangements or any        
    composition or arrangement with its creditors of any company where the new  
    director was a director with an executive function at the time of or within 
    the last twelve months. If there are none, state 'None'.

    None

5.  Details of any compulsory liquidations, administrations or partnership      
    voluntary arrangements of any partnerships where the new director was a     
    partner within the last 12 months. If there are none, state 'None'.

    None

6.  Details of receiverships of any asset of the new director or of a           
    partnership of which the new director was a partner at the time of or within
    the last 12 months. If there are none, state 'None'.

    None

7.  Details of any public criticisms of the new director by statutory or        
    regulatory authorities (including recognised professional bodies) and       
    whether he/she has ever been disqualified by a court from acting as a       
    director of a company or from acting in the management or conduct of the    
    affairs of any company. If there are none, state 'None'.

    None
  

    Signed G J DAVIS
    (on behalf of Grainger Trust plc)

    Dated   14/06/2001