Conversion of Securities

Guinness Peat Group PLC
22 May 2003

                                  ANNOUNCEMENT


GPG (UK) Holdings plc issues the following correction to its Announcement of 20
May 2003.

The ISIN Number allocated by the London Stock Exchange in respect of the Parent
Shares to be issued consequent upon conversion of the Redemption Amounts by
existing CLN holders should have read GB0033048173 not GB003064276




                      This information is provided by RNS
            The company news service from the London Stock Exchange