AGM Statement

Mercury Grosvenor Trust PLC
29 April 2003



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 £314,800, 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 totalling over 99.98% of the shares voted were received in favour of
each of the resolutions.



29 April 2003






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