Holding in Company

Merchants Trust PLC
20 March 2001

                                 SCHEDULE 10

                  NOTIFICATION OF MAJOR INTERESTS IN SHARES

1) Name of company

The Merchants Trust PLC

2) Name of shareholder having a major interest

Commercial Union plc and its subsidiaries.

3) Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or in respect of a
non-beneficial interest or in the case of an individual holder if it is a
holding of that person's spouse or children under the age of 18

In respect of (2) above

4) Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them

CUIM Nominee Limited

5) Number of shares/amount of stock acquired

-

6) Percentage of issued class

-

7) Number of shares/amount of stock disposed

1) 110,000

2) 184,690

8) Percentage of issued class

1) 9.33%

2) 15.67%

9) Class of security

3.65% (net) Cumulative Preference Stock of 1.

10) Date of transaction

1) 2nd March 2001

2) 14th march 2001

11) Date company informed

20th March 2001

12) Total holding following this notification

Nil


13) Total percentage holding of issued class following this notification

-

14) Contact name for queries:

Kirsten Salt

15) Contact telephone number:

020 7475 5808

16) Name and signature of authorised company official responsible for
making this notification

As in 14 above.



17) Date of notification:

20th March 2001



Additional Information: