Offer Update

Guinness Peat Group PLC 10 October 2000 DISCLOSURE OF INTEREST IN SHARES PURSUANT TO SECTIONS 198 TO 202 OF THE COMPANIES ACT 1985 Further to its announcement on 3 October 2000 Guinness Peat Group plc and its subsidiary companies ('the Group') hereby notify Staveley Industries plc ('Staveley') that consequent upon its Cash Offer Facility and a market purchase of Ordinary 25p shares ('Shares') on 10 October 2000 the Group's interest in the Shares of Staveley now amount to 100,380,352 representing 86.25% of the issued share capital. This holding is made up as follows: Holding on 23 August 2000 33,774,700 Valid acceptances of the Cash Offer at 9 October 2000 65,775,652 Market purchase on 2 October 2000 350,000 ------------ Total: 100,380,352 ------------ So far as the Group is aware, no person interested in the Shares is party to any agreement or arrangement relating to the exercise of any rights conferred by holding the Shares subject to this notification. The Alternative under the Cash Offer Facility remains open for acceptance by Staveley Shareholders until further notice.


Coats Group (COA)
UK 100

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