Disposal of Shares

Guinness Peat Group PLC 20 July 2001 GUINNESS PEAT GROUP PLC ('GPG') OR ('THE GROUP') DISPOSAL OF SHARES IN WRIGHTSON LIMITED ('WRIGHTSON') IN NEW ZEALAND GPG announces that it has sold 26.7 million shares in Wrightson (19.9%) for NZ$26.7 million (£7.8m) and, as a result of the transaction, Wrightson has ceased to be an associated company within the Group. Wrightson is a provider of agricultural services in New Zealand. Immediately prior to the disposal GPG held 28.0 million shares (20.91%). The book value at 31 December 2000 of the shares sold was £4.2m. In the year ended 31 December 2000, GPG's holding in Wrightson contributed £2.0m to GPG's pre-tax profits. GPG is a strategic investment company. The sales proceeds are in the form of cash and this will be utilised in GPG's ongoing business.


Coats Group (COA)
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