Notification of Share buyback

Merchants Trust PLC
21 November 2000

The Merchants Trust PLC announces that on 21st November 2000 it re-purchased,
for cancellation, 25,000 ordinary shares at 380p per share (representing 0.02%
of the issued ordinary capital).

Settlement and cancellation of the re-purchased 25,000 Ordinary Shares is due
on 28th November 2000 when the issued share capital of the Trust will fall to
102,203,936 Ordinary 25p Shares.


Enquiries:


Nicola Schrager von Altishofen

Company Secretary

Tel: [phone]

At at 21st November 2000