1st Quarterly Dividend

Merchants Trust PLC
1 July 2002


For Immediate Release                                    1st July 2002



                            THE MERCHANTS TRUST PLC

                            FIRST QUARTERLY DIVIDEND


The Board has announced a first quarterly dividend for the financial year ending
31st January 2003 of 4.30p net, payable on 9th August 2001 to holders of record
at the close of business on 12th July 2001. This represents an increase of 2.4%,
when compared with the equivalent payment in 2001/2002 of 4.20p.



                                                           By Order of the Board



                                                                    Kirsten Salt

                                                                Deputy Secretary







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