AGM Statement

Mercury Grosvenor Trust PLC
11 April 2002



MERCURY GROSVENOR TRUST plc

Following the Annual General Meeting of the Company which was held today, the
Board are pleased to announce that all the resolutions put to shareholders were
passed, including a special resolution which will allow the Company to make
market purchases of ordinary shares up to a maximum number of 3,775,000
representing 14.99% of the Company's issued ordinary share capital.

In addition, an ordinary resolution was passed to renew the directors' authority
to allot shares up to an aggregate nominal amount of £2,098,000, and a special
resolution was passed renewing the authority of the directors to allot shares
for cash otherwise than to existing shareholders on a pro rata basis.

Proxies were received in favour of the resolutions of over 99.93 percent of the
shares voted.

11 April 2002


For further information, please contact:

Ms K Rucht
for Merrill Lynch Investment Managers Group Services
Secretary

Telephone number: 020 7743 5466


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